GOP Proposes New 'Fiscal Cliff' Offer to President Obama
House Republicans negotiating with President Barack Obama on avoiding the so-called fiscal cliff are proposing to increase the eligibility age for Medicare and to lower cost-of-living hikes in Social Security benefits.
The proposal is a response to Obama's offer last week to hike taxes by $1.6 trillion over the coming decade but to exempt Medicare and Social Security from cuts to beneficiaries.
The GOP plan also proposes to raise $800 billion in higher tax revenue over the decade but would keep the Bush-era tax cuts -- including those for wealthier earners being targeted by Obama -- in place for now.
House Speaker John Boehner said the GOP proposal is a "credible plan" for Obama and that he hopes the administration would "respond in a timely and responsible way." (AP)
Saturday, May 25 2013 2:16 AM EDT2013-05-25 06:16:04 GMT
Aces Release 5/24/2013 In his first game of a Major League Rehabilitation Assignment from the Diamondbacks, infielder Willie Bloomquist boosted the Reno Aces to an 8-5 win over the Tacoma RainiersMore >>
Bloomquist went 2-for-4 with four RBI and a run scored.More >>