Phased in over 15 years, those 55 and older would be saved from the cuts, but younger Americans’ benefits would grow more slowly, and wealthy retirees’ benefits would bit hit especially hard.
Similar to a plan floated by presidential candidate Mitt Romney during the campaign, Medicare beneficiaries would have a private option as well as the traditional government plan under the CEOs’ proposal.
The Business Roundtable, whose member companies account for almost a third of the U.S. stock market total value, plans to meet with Washington officials to push their solution to lower the nation’s expenses and growing debt.
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