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Sen. Conrad: Extend All Tax Cuts; Time to Get 'Serious' About Deficit

Photo Courtesy - ABC News(WASHINGTON) -- The White House conceded that in order to get the middle class tax cuts passed in the lame duck session they would need to agree to extend all of them, The Huffington Post reports.  They will also have the full support of Sen. Kent Conrad, the chairman of the Senate Budget Committee.  He told ABC News Thursday, he “certainly hope[s]” Obama and Congress can come to an agreement before everyone’s taxes go up on Dec. 31.

“I think the president’s remarks are constructive, as you know I proposed some weeks ago that we extend all the tax cuts for a period of time until we are able to fundamentally reform the tax system,” he said. “Because that is what is required in part here along with spending reductions. Both are going to have to be done if we are going to get out of this deep hole.”

The North Dakota Democrat serves on the commission for deficit reduction -- which just came out with a draft proposal that includes tax increases and spending cuts to social security and Medicare. 

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