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Email Today, President Obama's bipartisan deficit-reduction commission approved its final report proposing sweeping changes to the tax, social security, and health care systems. The vote was 11 out of 18 in favor, which was fewer than the 14 votes that Senate Majority Leader Harry Reid and House Speaker Nancy Pelosi had required for a vote by Congress. Nevertheless, because the report had bipartisan support, it is expected to be influential. The commission's report follows a prior draft proposal circulated by the Co-Chairs of the commission and another report issued by the Debt Reduction Task Force of the Bipartisan Policy Center. This memorandum summarizes and analyzes the significant tax and social security proposals of the three reports. https://www.cadwalader.com/resources/clients-friends-memos/final-report-of-president-obamas-deficit-reduction-commission