South Carolina Sen. Lindsey Graham says he backs $600 billion in new revenue as part of a deal to stop the sequester set to kick in Friday.
Appearing on CNN's The Situation Room, Graham told host Wolf Blitzer that both parties need to "grow up" and find the chance to strike a Grand Bargain that has seemed elusive since debt and deficit talks began a little over two years ago between House Republicans and the President.
"I'll challenge the President," said Graham. "‘Mr. President, let's do things that will straighten out the long term indebtedness of the country. Stop talking about between March and October. Talk about the next 30 years. I'll raise revenue. Will you reform entitlement? And we'll set aside sequestration in a way that won't disrupt the economy.'"
Graham also called the sequestration deal a "lousy way to cut $1.2 trillion, which is imminently achievable."
"This is the chance to do the big deal," said Graham. "I'm willing to raise revenue. I'm willing to raise $600 billion in new revenue if my Democratic friends would be willing to fix entitlements. Because if you don't think it's that bad, why don't you come up with your own plan?"
Graham, along with Sen. John McCain, is expected to visit the White House on Tuesday to discuss a plan to reform the nation's immigration laws.
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