propose a replacement of tax loopholes with a tax credit for the lost wages of workers affected by sequestration failure

At a press event today, the president responded to a question regarding accusations that the effects of the sequester cuts are being overstated by the administration. He ceded that not every American will feel the effects of sequestration; that the effects will be manageable; and that it is far from a looming financial crises such as the debt ceiling. He also reminded us though that there will be damages felt by hard working American families due to these cuts, and he described his plan to take a balanced approach of closing wasteful tax loopholes and responsible, tough spending cuts. The Republicans will not take any deal that increases revenue by a penny. I suggest replacing loophole closures with a future tax credit for workers genuinely effected by the duration of sequestration.