http://firstread.nbcnews.com/_news/2012/12/03/15649000-gop-offers-own-proposal-to-avert-fiscal-cliff?lite
A snippet from the article:
"As Republicans put it, they would raise $800 billion in new revenue through tax reform, $600 billion in health savings, $200 billion from changes to the Consumer Price Index, $300 billion in discretionary spending cuts, and another $300 billion in savings in mandatory spending. Many of the health savings track closely with the changes to Medicare first proposed in Wisconsin Rep. Paul Ryan’s budgets.
Republicans say the plan, using the Obama administration’s math, would achieve $4.6 trillion in savings.
It’s unclear, though, whether the Republican plan would move toward ending the stalemate around the fiscal cliff negotiations, with less than a month remaining until the automatic tax hikes and spending cuts are scheduled to snap into place on Jan. 1."