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Can Lawmakers Reach a Budget Compromise?

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    Rep. Scott Garrett, (R-NJ), and Rep. Peter Welch, (D-Vt.), on the budget negotiations.

  • Duration 4:37
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-- -- -- more about this more on the expectations around the house republicans' budget proposal were joined by Republican congressman Scott Garrett of New Jersey.

Democratic congressman Peter Welch of Vermont.

Out comes two -- -- -- start with you first sir already everyone saying this is going nowhere fast.

Paul Ryan saying he wants to repeal obamacare Republican and try this summer over 35 times -- repealing.

Is this gonna go anywhere.

-- and I hope -- -- is that it's really dead and this was a decision of the election so.

Doubling down on another 35 times of repealing obamacare just gets -- going nowhere.

In bottom line there's an opportunity here if if the Republicans acknowledge that the President Obama won.

The common goal is to try to get sustainable spending and there's ways to do it -- clean up and totally outrageous tax cut one point two trillion.

In spending in the form of giveaways oftentimes the special interest and we had to eliminate that are really rain and again.

And then secondly there's things we can do to reform health care.

Like have prescription drug price negotiation that would save Medicare and taxpayers a 160 billion dollars.

Which should be a substantial savings and that's through just having price negotiation like at Libya and like -- have and Medicaid.

In like a lot of companies have when they have unemployed and -- based plan.

Representative Garrett I have to say that if this is the most middle ground I've heard from a Democrat in a really long time.

How come we can't come to the table because from my understanding timer is gonna release her budget on Wednesday increasing taxes on the wealthy.

And of course -- title.

Top whatsoever.

So yes in Washington with politicians it's always easy to criticize and it's hard to actually come to the table -- an actual plan and that's for that reason we haven't seen anything from the from the senate Democrats and or four years we haven't seen anything from the president since he's been in office that actually passes with his fellow Democrats -- be great if they actually.

Finally put something on the table I wonder whether it's because we passed the no budget no pay bill that they realize they don't do something that's -- they don't get paid over there.

But if they come to the table then maybe we can begin to go to find our common ground -- -- you tell you this.

We are already receiving revenue in this country at higher levels and that's -- anytime in the history.

We are seeing tax rates near their top ever.

And so -- say that we need to put an added added extra burden on the economy of higher taxes on this economy.

Not quite sure that's their direction ago.

Many you'll agree -- -- representative Garrett on that congressman -- because -- My cat we also -- our paychecks are cut in half based on what's happening lately.

But I think we all agree that there needs to be tax reform I think we can all agree that this could be a huge.

Revenues creator and -- spending Saber at the end of the day how do -- do -- comes in the middle.

Well first well.

If the issue -- tax rates is off the table now.

-- -- -- -- rates went up on the folks over 400000 dollars in this don't care but actually -- now -- is more increases again on Wednesday so attack contingent taxes is not off the table clearly.

Yeah I -- actually don't know what's gonna be in a budget but I think the president I guess I don't think the president is talking about.

And about new higher taxes I think what he's been clearly talking about -- Cleaning up the tax code where I think there's widespread acknowledgement that it's just it's a disaster in its its anti growth and it's -- for oftentimes.

Been doing bad economic got consequences so would hit the debate let us will be whether we take some of those revenues and invest them.

In education and infrastructure which is something I would strongly support we have to -- represent opponent representative are -- discussions.

Given that last word here because they're running out of time but we we are hearing more and more corporations parking money overseas.

We are the payroll tax cut is hurting people at home how do you fix this.

So one thing of course and falls on Ryan's budget does -- -- voting out this week is to make us think go to more territorial tax system so that we can get this country country companies that are overseas now US companies.

Not to be taxed twice and allow them to bring their money back to this country without a penalty.

That'll go a long way to fixing our tax code and on the second point on tax reform means that -- -- -- his own reform.

If you don't take that money from a one pocket and take it to another pocket in other words -- in another way.

How do you think you -- analytical my -- moment.

Congressman -- continent well -- kind of -- debt crisis -- my representative at home in New Jersey thank you both -- and a contributor thanks -- thank you Mary.

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