DETROIT (AP) — Days before a pivotal primary, Republican presidential candidate Mitt Romney said Friday he would raise the eligibility age for Medicare as he looks to show he's willing to curtail government benefits in the long run.

It was a new detail in a major campaign speech that was otherwise short on new policy ideas. Romney delivered the speech to the Detroit Economic Club at the cavernous and largely empty Ford Field, where the Detroit Lions play football.

"With these commonsense changes, we will have fixed our balance sheet," Romney told the crowd of about 1200, who occupied just a portion of the field itself as tens of thousands of stadium seats sat empty.

Romney walked through much of the economic plan he had already unveiled Wednesday ahead of a GOP debate. He's proposing 20 percent cuts to the marginal individual tax rates. He also wants to lower corporate tax rates to 25 percent from 35 percent. On Friday, he said he wants to raise Medicare eligibility age by one month per year and eventually tie the age to life expectancy.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.