Under the Republican offer, tax revenue would rise by $800 billion over 10 years, through closing loopholes and ending or curtailing deductions and tax credits. Mr. Boehner did not specify on Monday which tax breaks would be curtailed.
Another $600 billion in deficit reduction would come from changes to federal health care programs like Medicare, Medicaid and the president’s health care law. Cuts to other programs that are not under the purview of annual Congressional spending bills — so-called mandatory programs — would total $300 billion. And discretionary programs, already cut by nearly $1 trillion through last year’s Budget Control Act, would be reduced by another $300 billion.
Boehner Counters Obama’s Proposal on Deficit Cuts – NYTimes.com