Pray for Texas’ Representative Jeb Hensarling. He will co-chair with Patty Murray.
In a move that could deadlock the 12-member panel over taxes, but perhaps set the stage for changes later, Senate Republican Leader Mitch McConnell named Tea Party ally Patrick Toomey to the panel with Jon Kyl and Rob Portman.
The panel is known as the Joint Select Committee on Deficit Reduction and was established to find $1.5 trillion in additional budget savings over 10 years, but markets have been looking for signs that it may be able to do more.
House of Representatives Speaker John Boehner, the top Republican in Congress, appointed Dave Camp, who chairs the tax-writing House Ways & Means Committee, along with conservative “young gun” Jeb Hensarling and Fred Upton.