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Democrats say GOP deficit plan is 'unbalanced,' offers too little tax revenue
WASHINGTON (AP) ' Democrats and Republicans on a special deficit-cutting panel remain far apart even as Republicans showed new flexibility on tax revenue increases.
The GOP plan would place sharp limits on popular tax breaks like the mortgage interest deduction in exchange for significantly lower income tax rates. At the same time, Republicans are willing to accept a net increase in individual income tax revenues of about $300 billion over the coming decade.
Democrats say the GOP proposal would cut the top rate so sharply ' from 35 percent to 28 percent ' that wealthier earners would get large tax cuts while middle class workers would lose out on deductions for mortgage interest and state and local taxes.
Washington Democrat Patty Murray says she's yet to see a "real, credible" plan from Republicans.