The proposed inflation gauge, known as chained CPI, would reduce scheduled benefit increases and annual adjustments in tax brackets, subjecting more income to higher rates.
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AARP, the lobbying group for senior citizens, opposes the change, which it calls a benefit cut that would most affect the poorest seniors.
The President also wants to replace the expiring payroll tax cut with other stimulus measures such as infrastructure spending; Boehner doesn’t.
“The longer this runs, passing a big deal becomes more challenging on all fronts,” said Siddiqui, now a lobbyist at Akin Gump Strauss Hauer & Feld LLP in Washington.
—With assistance from James Rowley, Heidi Przybyla, Roxana Tiron, Roger Runningen, Margaret Talev and Kathleen Hunter in Washington