Final 3 Members Chosen for Debt Reduction Super Committee

House Democratic Leader Nancy Pelosi (D-Calif.) has chosen the final three members to complete the Joint Select Committee on Deficit Reduction, which is charged with finding $1.5 trillion in savings by Thanksgiving, according to a BusinessWeek report.

The three members are Reps. James E. Clyburn (D-S.C.), Xavier Becerra (D-Calif.) and Chris Van Hollen (D-Md.). According to the report, Reps. Clyburn and Becerra are members of the Democratic House leadership, while Rep. Van Hollen is the top Democrat on the Budget Committee.

With the Joint Select Committee on Deficit Reduction assembled, the White House was quick to press the committee members to "act seriously" and develop a plan that features both spending cuts and tax increases, according to the report. Seven members of the 12-member committee must approve any debt-reduction plan before it comes to a Congress vote.

Under the Budget Control Act of 2011, if the committee fails to recommend up to $1.5 trillion in savings by Thanksgiving, as much as $1.2 trillion in automatic cuts will be enacted, including up to 2 percent cuts in Medicare payments to healthcare providers.

Read the news report about the Joint Select Committee on Deficit Reduction.

Related Articles on the Budget Control Act of 2011:

Members Chosen for Debt Deal Committee That Could Cut Medicare
Hospital Lobbyists Prepare to Fight Newly Passed Debt Deal
President Obama Signs Debt Deal With Possible 2% Medicare Cut

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