Relative to "current policy," or the tax code currently in effect, Simpson-Bowles raises $2.7 trillion to Obama's $1.6 trillion.
The same deal works with Domenici-Rivlin, the other major deficit-reduction plan. Between 2012 and 2020 — nine years, rather than the conventional 10-year period — that plan would have raised $1.873 trillion from cutting tax breaks and $435 billion in additional new revenue, for a total of about $2.3 trillion. That's not only more than Obama has proposed, but it's spread over a shorter time frame.
McConnell's remark is a reminder that, contrary to popular belief, Obama is staking out a position on taxes that, if anything, is more timid than that of the bipartisan debt commissions. They want revenue increases far in excess of anything the administration has proposed.