With the Thanksgiving deadline fast approaching, members of the bipartisan super committee are far from reaching a deficit-reduction deal.
GOP aides say Democrats rejected a Republican proposal that would increase revenue, cut spending and decrease taxes.
The plan would reportedly limit the tax deductions and credits a person could claim, such as the mortgage interest deduction.
Republicans were also willing to increase individual income tax revenues by $300 billion over the coming decade.
Democratic aides said the plan helps the wealthy and hurts the middle class.