Tuesday, February 19, 2013

Democrats, GOP at Odds on Sequester

WASHINGTON?The impasse in Washington over how to avoid across-the-board spending cuts slated to kick in March 1 showed no signs of easing Sunday as lawmakers dug into stances offering little room for compromise.

Republicans rejected the latest plan from Senate Democrats proposing to replace the cuts, known in Washington as the sequester, with a mix of reductions to farm subsidies, higher taxes for millionaires, ending some tax breaks for businesses and more gradual military spending cuts.

House Budget Committee Chairman Paul Ryan (R., Wis.) said closing tax breaks?and the revenue generated by it?should be reserved for overhauling the tax code ...

Source: http://online.wsj.com/article/SB10001424127887323495104578310173141514276.html?mod=rss_Politics_And_Policy

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