The Simpson-Bowles Plan

The Simpson-Bowles Plan was a proposal from a bipartisan commission in 2010 aimed at reducing the U.S. deficit. It suggested ways to cut spending and increase revenue, including slowing the growth of health and retirement programs, modifying tax rules to collect more revenue, and trimming government expenses. The goal was to balance the federal budget over time while promoting economic growth. Although Congress didn’t adopt the plan fully, it influenced discussions about fiscal responsibility and reforming how the government manages spending and taxes.