Obama budget offer to drop olive branch for Republicans
WASHINGTON (REUTERS) - President Barack Obama's soon-to-be released budget proposal for the 2015 fiscal year drops a past offer to trim cost-of-living increases in Social Security, a White House official said on Thursday.
The offer made in last year's budget had been an attempt to gain some Republican support and break through congressional gridlock. Dropping it this year is a sign Democrats are girding for November congressional elections and in no mood to risk supporting proposals that could cost them votes from seniors on Election Day on Nov. 4.
The budget offer, to be issued on March 4, will adhere to spending levels agreed to in a two-year bipartisan budget deal that was achieved at the end of last year, the official said, speaking on condition of anonymity.
The Obama budget will include new proposals, including expanded tax credits for the working poor, the official said.