Source: Kate Bolduan and Deirdre Walsh and Ted Barrett / CNN
Washington – Democrats on the so-called “super committee” proposed during a closed meeting Tuesday a $3 trillion plan designed to slash the federal deficit but Republicans swiftly and decisively rejected it because it relied heavily on tax increases, according to several congressional sources from both parties.
One top Republican aide described the Democratic offer as “outrageously absurd” and a “non-starter,” and a sign the super committee may ultimately fail. But this is the first time in the months since the committee began its negotiations that any group in the committee has offered a specific plan.
Democratic sources told CNN that at the meeting Tuesday the ten-year plan was presented to the 12 member committee by Sen. Max Baucus, D-Montana, the Finance Committee chairman. A majority of the 6 Democrats on the super committee supported the proposal but sources declined to say which member or members disagreed.
It would include cuts to entitlement programs like Medicare and Medicaid, which the Democratic sources described as a major concession from their party. In return Republicans were asked to go along with between $1.2 and $1.3 trillion in new tax revenue.
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