made public 48 hours in advance? guest: if it does, i suspect we could put out there what would be the ouines of the plan. i don t think we will try to give up on an opportunity to get it done, it is better than letting automatic triggers to decide where we make the cuts. chris: but, to be honest, it sounds more to me from what you and my previous guest are saying you do not want to admit pressure because you would like it blamed on the republicans rather than the democrats but it is still failure, guest: it is not an issue between a deal and no deal but it is a matter of getting a better deal. we have a deal that was struck in august. whether we do something or not, there will be $1.2 trillion additional savings after the $1 trillion in savings in august. but it is better to do it a smart way than have some sequestration process decide law automatic triggers how to get
expire that would provide $800 billion in added revenue but republicans are demanding the tax cuts be extended as part of any deal. joining us now is the key democrat on the supercommittee, congressman xavier becerra. you just heard congressman hensarling, it sounds like this thing is dead. we are deep into the fourth quarter but there is still time on the clock. i don t think any of us wants to let the time run out without trying everything possible to get there. chris: you say he fourth quarter comeback. are democrats preparing a last minute offer? as jeb said, the conversations continue. i think they are going to gin until wednesday if they have to. chris: you only have until monday because you have to submit something to the cbo by monday. the reality is that the congressional budget office which has to score the plan has essentially seen all of the elements. chris: doesn t have to be
of blame. but it is a matter of fact we believe that is bad for the economy. chris: let me pick up on that and we will talk with a democrat congressman about entitlements on what they were willing and not willing to do. the fact is republicans, they say, republicans would not grow to a sizable increase in taxes especially on the wealthy because even the toomey plan, yes, it would do away with deductions but it was going to have a 20 percent reduction if the tax rate, not only would the bush tax rates be extended but there would be a 20 percent reduction to 28 percent and the result would be a huge tax wind fall for the wealthy. guest: i disagree. this is the same approach naviry other bipartisan plan put on the table. simpson-bowles or rivlin and we have $1 trillion of so-called tax expenditures, in the code and we want to take out the
2012. it would provide if expired $800 billion in added revenue but republicans are demanding they be extended and now, a key democrat open the super committee, congressman becerra. welcome back to fox news sunday. you just heard congressman saying, or sounding like it is dead. guest: we are deep in the 4th quarter and i don t think any of us want the time to run out without trying everything possible to get there. chris: you say fourth quarter come back, are democrats preparing a last minute offer? guest: as he said, the conversations continue. i think they will continue physical wednesday if they have to. chris: you only have until monday because you have to submit to c.b.o. by monday. guest: the congressional budget office which has to score this plan has essentially seen the different elements that could . chris: doesn t have to be
made public 48 hours in advance? it f. it would have to be made public in advance i suspect we would put out there would eceptionly would be the outlines of the plan. i don t think we will try to give up on an opportunity to get this done because it is better than ling automatic triggers. it is better to have a smart plan than not a plan that you can live with. chris: to be honest, it sounds nor me from what you you and congressman hensarling are saying that you don t want to admit failure because you would just as soon have it be blamed on o the republicans and not on the democrats but it is still a failure. it is not an issue between a deal or no deal. it is a matter of getting a better deal. we have a deal that was struck in august. it is whether we do something or not there will be $1.2 trillion additional savings after the $1 trillion in savings in august. but it is better to do it the smart bay than have some sequestration process decide through automatic triggers how