WASHINGTON (AP) - By proposing smaller increases in Social Security and other government benefit programs, President Barack Obama says he's "met Republicans more than halfway."
Obama today sent a budget proposal to Congress -- one that seeks to tame runaway deficits by raising taxes on the wealthy and trimming the popular benefit programs.
But House Speaker John Boehner says Republicans aren't willing to go beyond the $660 billion in higher taxes that were approved in January.
The budget plan would increase taxes by one trillion dollars over the next decade, but it relies on many proposals that have been repeatedly rejected by Congress.
One new proposal is a 94 cents-a-pack increase in the cigarette tax. The tax would raise an estimated $78 billion over the next decade to pay for early childhood education.