Here is the White House Fact Sheet, “THE PRESIDENT’S FRAMEWORK FOR SHARED PROSPERITY AND SHARED FISCAL RESPONSIBILITY.” A few major points:
*”$4 Trillion in Deficit Reduction”
*”Debt on a Declining Path, Backed Up By An Across the Board ‘Debt Failsafe’ Trigger”
*”Balance Between Spending Cuts and Tax Reform”
*”Shared Sacrifice from All, Including the Most Fortunate Americans”
*”Bipartisan, Bicameral Negotiations on a Legislative Framework”
*”The President’s framework includes a target of $360 billion in savings from other mandatory programs by 2023″
*”…the President is calling for individual tax reform that closes loopholes and produces a system which is simpler, fairer and not rigged in favor of those who can afford lawyers and accountants to game it.”
*”Additional Discipline on Security Spending While Keeping America Safe”
*”The President does not believe that Social Security is in crisis nor is a driver of our near term deficit problems…the President supports
bipartisan efforts to strengthen Social Security for the long haul.”
*”A major contrast with the House Republican approach. The President’s framework rejects plans that would end Medicare as we know it or transform Medicaid into a dramatically underfunded block grant, putting at serious risk not only seniors but also the most vulnerable children and people with disabilities.”
