The so-called Gang of Six plan to meet in Washington Monday now that the Super Committee has failed to come up with a plan to cut the federal deficit.
One member of the bi-partisan group of legislators is Georgia Senator Saxby Chambliss.
He says the group plans to write a bill cutting entitlement programs such as Medicare and closing tax loopholes.
But Chambliss, a Republican, says both sides have to compromise.
“People have got to be willing to make very hard and very tough decisions relative to the revenue side as well as to the entitlement side," Chambliss said in an interview. "That’s where the super committee failed. They could not get over that hurdle and we just have to get by that.”
He says it may take a month to hammer out the details of the plan.
The Gang of Six group consists of 3 Democrats and 3 Republicans. It came up with a plan over the summer to reduce the deficit and spending. The plan, however, wasn't in the form of a legislative bill. Chambliss says the new plan will have to be revised to reflect the debt-ceiling deal lawmakers reached in August.
Chambliss says without a new plan, automatic defense budget cuts set to begin in 2013 would harm Georgia’s 11 military bases.
"It'll have a huge impact, not only on the military community but also in the contracting community, which is very large in Georgia, both from a manufacturing standpoint as well as a technology standpoint," he said.