WASHINGTON (AP) — Senate Majority Leader Harry Reid says he would consider cuts to Medicare, Medicaid and Social Security if they were part of a "grand bargain' that includes tax increases.
Reid defined a "grand bargain" as a plan that reduces future deficits by $4 trillion, the number used by President Barack Obama. Republican leaders oppose tax increases, so negotiators are focusing on more modest proposals.
Reid has resisted cuts to the major benefit programs, and previously said that Social Security should not be part of deficit reduction talks. He did not specifically say he would support cuts to benefits, but a plan that reduces future deficits by $4 trillion would almost certainly include some benefit reductions.
Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.
Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- 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
Already have an account? Sign In
© 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.
