CHATTANOOGA, Tenn. (AP) - U.S. Senator Bob Corker said he's developed a plan to reform taxes and balance the federal budget, but he's not planning to release details until after the election.
He told the Chattanooga Times Free Press on Monday that his plan will both cut entitlement spending and raise more money.
Corker said he intends to keep his "soup to nuts" plan private until after the presidential election is settled but he's submitted a draft for review by congressional budget staff. The Chattanooga Republican said he thinks his proposal can provide a path to compromise between Republicans who want to cut spending and Democrats who want to raise taxes.
Corker is seeking re-election but doesn't face a strong challenge in the Aug. 2 primary or Nov. 6 general election.
(Copyright 2012 by The Associated Press. All Rights Reserved.)