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Wednesday, August 10, 2011

Republicans Announce Chosen Six For 'Super Committee'

The soon to be fully formed "Super Committee" which will hold the responsibility of finding an additional $1.2 trillion in budget savings by November 23, 2011, to avoid pulling the recent debt deal agreement "trigger" which would cause automatic cuts in areas like Medicare and national security.

The 12-member group has until Nov. 23 to come up with a deficit reduction plan. If a majority approves the plan, the House and Senate must vote on it by December 23. If the plan is rejected, it will automatically trigger $1.2 trillion in cuts in areas like Medicare and national security.

The super committee's goal is to find $1.5 trillion in savings, though it appears it can still meet its mandate if it finds only $1.2 trillion in deficit reduction. The recent downgrade in the U.S. credit rating, however, puts pressure on the committee to seek out greater savings.

House Republicans have chosen House Republican Conference Chairman Jeb Hensarling, R-Texas, to serve as co-chair of the committee, House Ways and Means Committee Chairman Dave Camp, R-Mich. and House Energy and Commerce Committee Chairman Fred Upton, R-Mich.

Senate Republicans chosen are Senators Jon Kyl, Ariz., Pat Toomey, Pa., and Rob Portman, Ohio.

Senate Democrats have already announced the three Democratic Senators for the committee, which are, Senators Patty Murray, Wash., to co-chair the committee, Max Baucus, Mont. and John Kerry.

House Democrats have not announced their three choices for the 12 member committee.

H/T Hot Air, via Twitter.