Alan Simpson and Erskine Bowles on Tuesday are expected to unveil a new deficit-reduction proposal, the Wall Street Journal reported. The duo's new proposal would aim to reduce the deficit by $2.4 trillion over 10 years, according to the Journal:
The new $2.4 trillion Simpson-Bowles proposal would identify $600 billion in spending reductions through changes to health-care programs such as Medicare and Medicaid. That is roughly $200 billion more than the White House has said it is willing to accept.
Simpson and Bowles served on President Obama's fiscal commission in 2010.