CBS 11 Header TXA 21 Header MeTV Header KRLD Header The Fan Header
CBS DFW WEATHER APP: iPhone App Store | Android App Coming Soon | More Information

Politics

GOP Proposes New ‘Fiscal Cliff’ Offer To Obama

Get Breaking News First

Receive News, Politics, and Entertainment Headlines Each Morning.
Sign Up

WASHINGTON (AP) - 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.”

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

Also Check Out: