The Fiscal Responsibility Commission has just announced that they will have a press conference in the hall outside of the Dirksen office building on the Hill today at 1pm.

Alex Lawson, who conducted the now-famous livestream video interview of Catfood Commission co-chair Alan Simpson, is on his way there.  FDL will be livebroadcasting via Ustream (above) once again when the press conference starts.  Alex says they may be releasing a a Chairmen’s mark of the committee’s recommendations.

Update: Bloomberg leaks some details of the plan:

  • Nobody but Bowles and Simpson endorses this
  • The plan “will propose cuts to Social Security and Medicare, as well as reductions in income tax rates in exchange for curbing tax breaks,” according to a GOP aide who attended the meeting.
  • Jan Schakowsky says “this is not a package I could support.”
  • Durbin says there is not going to be “an up or down vote” on this.

Update: Alex Lawson was thrown out of the press conference because he’s not “press,” so there will be no livestream livestream is from the back of the room, but it is running.

Update II: Text of the Co-Chair’s Proposals (PDF)