Rep. Jan Schakowsky offers alternative deficit plan

Members of the President’s deficit commission are debating how to vote on a controversial plan to reduce the nation’s budget deficit. Rep. Jan Schakowsky (D-Ill.) says she plans to reject the plan put forward by the commission’s co-chairs, Erskine Bowles, former Chief of Staff for President Clinton, and Republican former Senator Alan Simpson. Instead, she’s offering an alternative plan which would sharply reduce spending at the Pentagon and raise corporate taxes, targeting windfall profits and excessive executive pay.

Schakowsky says she doesn’t see how she can support the co-chairs’ plan.