From CNN:
Washington (CNN) — House Republicans offered their own proposal Monday in the heated battle to avert the so-called fiscal cliff, but it was quickly rebuffed by President Barack Obama’s administration for not demanding more from the nation’s wealthiest taxpayers.
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.
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