A high-profile
congressional effort to trim stubborn budget deficits appeared near collapse on Friday as Democrats
rejected a scaled-back proposal from Republicans that contained
few tax increases.
With Democrats and Republicans on
a deficit-cutting "super committee" deadlocked ahead of a Wednesday deadline, House of Representatives Speaker
John Boehner floated an offer to try to break the logjam on tax increases and benefit cuts.
The plan would save $643 billion over 10 years, about half of the panel's goal of
$1.2 trillion, but the two sides were unable to even agree what was in the plan.
Boehner aides said it included $229 billion in new
revenues and fees. Democrats said it would only generate $3 billion in new
revenue from closing a tax break for corporate jets.