Senate Democrats to Present Plan to Avoid Spending Cuts

Propose tax hikes for the wealthy, ending some subsidies, and reducing defense spending after mission in Afghanistan ends

Senate Democrats proposed a $110 billion measure Thursday to put off mandatory across-the-board spending cuts set to take effect March 1.

The package made public by Senate Democratic leaders calls for replacing the so-called sequester cuts with a combination of increased tax revenue from millionaires, ending agriculture subsidies and reducing defense spending after the war in Afghanistan ends.