By Vicki Needham - 12/01/10 03:51 PM EST
Conrad expressed support of the plan's tax code simplification.
"This plan will make the tax code fairer and more efficient, and it makes clear that revenues, as well as spending, must be part of the solution to our deficit problems," he said.
The proposal, co-written by commission co-chairmen former Sen. Alan Simpson and former White House Chief of Staff Erskine Bowles, would reduce deficits by $3.9 trillion over the next decade and cut debt as a share of the economy to below 60 percent by 2025. The deficit reduction is phased in gradually to avoid harming the nation’s economic recovery.