The new cuts aren't very extensive. They bring the package's total deficit reduction up to $2.4 trillion -- but only when judged against a slightly outdated January baseline. Judged against the current baseline, the revised plan would still reduce the deficit by $2.2 trillion.
It's unclear if Reid is willing to go any further. Asked if this is Reid's final offer, a spokesman says "This is the last train leaving the station and we hope Republicans will get on board."
Late update: At a late Friday press conference, Reid suggested that the door is still open to further tweak his proposal, including by adding failsafes to assure future entitlement and tax reforms -- but it's up to Republicans to offer up their votes.
"We have a closet full of triggers, people have suggested dozens of them but even though earlier this week, I was sitting talking to Jack Lew about triggers for an hour and a half and we can't get Republicans to move on any trigger. We're not going to have cuts on more programs without some revenue - that is a line we've drawn in the sand," Reid said. "It's up to the Republicans, right now we have a proposal...we are waiting for them to do something, anything, move toward us."
Below is the document: