Bowles, Simpson Add to Chorus Seeking Larger Deficit Reduction With Updated Plan

Erskine Bowles and Alan Simpson, co-chairmen of a 2010 deficit commission created by President Obama, unveiled an updated version of their original plan Feb. 19 that calls for $900 billion more in deficit reduction than Obama has said is needed.

The plan also includes using some revenues from tax reform to reduce the deficit, a stance likely to draw opposition from congressional Republicans who insist new revenues are off the bargaining table after the early 2013 fiscal cliff deal allowed taxes to rise on some high-income earners.

The updated plan is light on policy details, but in general sees a ...