New Super Committee goal: Agree on amount of new revenue but let Congress fill in details

Under this approach, the panel would decide on the amount of new revenue to be raised but would leave it to the tax-writing committees of Congress to fill in details next year, well beyond the Nov. 23 deadline for the panel itself to reach an agreement. That would put off painful political decisions but ensure that the debate over deficit reduction stretched into the election year.

“There could be a two-step process that would hopefully give us pro-growth tax reform,” Representative Jeb Hensarling of Texas, the top Republican on the panel, said Sunday on the CNN program “State of the Union.”…

As the deficit panel enters a final frenetic week of negotiations, Republicans and Democrats said they hoped to give broadly worded instructions to the regular tax-writing committees of Congress — the House Ways and Means Committee and the Senate Finance Committee — to come up with a certain amount of revenue after the panel completes its work this month.