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March 03, 2013


GOP Leaders Open Door Again to Grand Bargain

Republican congressional leaders opened some room "for a longer-term deficit reduction agreement that eventually could blunt the effects of the $85 billion in automatic spending cuts now in place," Roll Call reports.

The catch: GOP leaders "insisted that any revenue from a tax overhaul would have to be reserved for reducing tax rates and not used to fund government spending or lower the deficit."

"The leaders appeared determined to keep the level of spending cuts in place but signaled that a longer-term deal to lower the deficit, overhaul the tax code and rein in spending on entitlement programs could still be had."












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