DES MOINES – Republican lawmakers Wednesday proposed deep tax cuts for seniors and a $450 million performance-based teacher pay increase in a package aimed at reaching a budget compromise that must be reached before the session ends.

Republicans said the measure is as large as the teacher pay increase proposed by Gov. Tom Vilsack in his Condition of the State speech, although they conceded the plan includes performance requirements that the governor has not fully endorsed.

“Not only do our teachers need to be paid more, but our students need to be learning,” said Senate Republican Leader Stewart Iverson, of Clarion. “Our students will do better; our teachers will do better.”

The pay increase would be phased in during five years, as would the performance measurements.

Vilsack issued a statement Wednesday afternoon, conceding that much work remains and that he is “committed to working with legislators to reach consensus.”

In exchange for giving Vilsack the teacher pay increase, Republicans said they want approval of a House-passed plan phasing out the state’s income tax on pensions and Social Security income.

“Those are really two items that our folks believe so strongly in that we’re willing to stay here to get them done,” Lamberti said. “We’ll be here as a long as it takes to accomplish that.”

The GOP lawmakers made their proposal during a private 90-minute session with legislative leaders and the governor seeking a spending package that all sides can agree to and end the session, likely in mid-April.

“It seems to me that we just met his requirement,” Lamberti said. “We are committed to making sure that we raise teacher pay in Iowa. We want to make that long-term commitment because we want to do it right.”

Democrats were far more reserved after Wednesday’s session ended.

“Everybody put cards on the table today,” said Senate Democratic Leader Michael Gronstal, of Council Bluffs. “We said we were not going to go out and talk about the potential different proposals. We’re not going to do this through the press.”

Gronstal said Democrats have a long list of their priorities they want as part of the package. He did warn that ending the tax on pensions and Social Security would cost the state $300 million annually once it is fully implemented.