The White House panel on reducing the deficit has delayed a final vote on a package of recommendations that includes widespread cuts to Social Security and Medicare. Panel co-chairs Erskine Bowles and Alan Simpson have proposed raising the retirement age for Social Security to 69 by 2075, decreasing the cost of living benefits for Social Security recipients, imposing new limits on the Medicare health insurance program, ending several middle-class tax breaks, and reducing corporate income taxes. Simpson and Bowles say they have delayed a vote until Friday because they have been unable to gather the 14 votes needed to send their recommendations to Congress.
Deficit Panel Delays Vote on Recommendations
HeadlineDec 01, 2010