You assume that a purported trade of tax breaks for significant "spending reductions" is good. As a short-term expedient, it would be, but for one small problem:
Democrats LIE.
They will institute the tax increases as sure as the sun will rise tomorrow. The proffered spending cuts, however, will NEVER materialize. Why? Because next year is an election year and any proposal to "cut" the budget (Washingtonese for "reducing the originally-planned rate of increase") will be characterized in wall-to-wall Democrat campaign ads as "heartless", cruel", "vicious" , or "merciless": giveaways to the greedy Republican special interests especially those millionaires and billionaires that don't need it.
Compromise is easy, as is demagoguery. Responsibility is hard.
Economic theory says it is objectively good for the long-run as well.
They will institute the tax increases as sure as the sun will rise tomorrow.
If they win a majority in the future, they will be able to do that regardless of whether we take this deal or not.
The proffered spending cuts, however, will NEVER materialize.
If you really believe that, then there's no point for you to even try to get spending cuts. Is that really your position?