The GOP plan promises $2.2 trillion in deficit savings over the next decade, including $800 billion from tax reform, $600 billion from Medicare reforms and other health savings and $600 billion in other spending cuts, House Republican leadership aides said. It also pledges $200 billion in savings by revising the consumer price index, a measure of inflation.
House Speaker John Boehner called it a “credible plan that deserves serious consideration by the White House.”
The move follows spitting back and forth in recent weeks, with each side claiming the other isn’t sincere about striking a deal to avoid automatic tax increases and spending cuts in January, a scenario many economists say would hurt the U.S. economy.
To read this article in its entirety visit CNN.
Get Roland Martin Reports in your inbox!
Sign up for Roland Martin Reports Daily News Update powered by FeedBurner