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Dec 4, 2011

Senate Democrats to offer new tax cut plan

WASHINGTON (Reuters) – Senate Democrats plan to offer a new proposal on Monday to extend a popular payroll tax cut amid signals that Republican leaders would accept a compromise that covers the cost to the federal Treasury.

Senate Budget Committee Chairman Kent Conrad, a Democrat, said that the offer would be a “serious attempt to move this ball forward,” and avoid a December 31 expiration of the popular tax cut.

Dec 4, 2011

Republicans show rare discord over tax policy

WASHINGTON (Reuters) – The Republican brand, built on a rock-solid “no new tax” pledge to voters, is showing a few cracks as internal party divisions erupt in the face of rapidly escalating U.S. government debt.

Republicans have hopes of capturing control of the White House and both chambers of Congress in November 2012 elections, and tax policy looms as a central issue.

Nov 22, 2011

Lawmakers abandon deficit-cutting effort

WASHINGTON (Reuters) – Lawmakers abandoned their high-profile effort to rein in the country’s ballooning debt on Monday in a sign that Washington likely will not be able to resolve a dispute over taxes and spending until 2013.

The admission of defeat by Republicans and Democrats on a 12-member congressional “super committee” is likely to cement perceptions among voters and investors that politicians are too divided to tackle trillion-dollar budget deficits and a national debt that now is roughly equal to the U.S. economy.

Nov 22, 2011

U.S. lawmakers abandon deficit-cutting effort

WASHINGTON, Nov 21 (Reuters) – U.S. lawmakers abandoned
their high-profile effort to rein in the country’s ballooning
debt on Monday in a sign that Washington likely will not be
able to resolve a dispute over taxes and spending until 2013.

The admission of defeat by Republicans and Democrats on a
12-member congressional “super committee” is likely to cement
perceptions among voters and investors that politicians are too
divided to tackle trillion-dollar budget deficits and a
national debt that now is roughly equal to the U.S. economy.

Nov 19, 2011

Deficit “super committee” stalled as deadline looms

WASHINGTON (Reuters) – Both sides of Congress’ deadlocked “super committee” held separate talks on Saturday, but formal negotiations remained stalled, reaffirming gloomy predictions that the deficit-fighting panel may fail.

With a midnight Wednesday deadline fast approaching, the panel’s six Republican and six Democratic members were still far apart on how to achieve their goal of finding at least $1.2 trillion in budget savings over the next 10 years.

Nov 19, 2011

US deficit ‘super committee’ stalled as deadline looms

WASHINGTON, Nov 19 (Reuters) – Both sides of the U.S.
Congress’ deadlocked “super committee” held separate talks on
Saturday, but formal negotiations remained stalled, reaffirming
gloomy predictions that the deficit-fighting panel may fail.

With a midnight Wednesday deadline fast approaching, the
panel’s six Republican and six Democratic members were still
far apart on how to achieve their goal of finding at least $1.2
trillion in budget savings over the next 10 years.

Nov 19, 2011

U.S. debt battles to persist no matter what

WASHINGTON (Reuters) – It is make or break time for a special U.S. committee on deficit reduction, but even if it succeeds in striking a last minute deal, it will not be enough to address future financial strains from an aging population.

The panel needs to have a deal in hand by Monday to meet a Nov. 23 deadline for a vote by the 12 “super committee” members. But as negotiations enter the final days after more than two months of intense talks, the six Democrats and six Republicans remain far apart on the central issues of tax increases and spending cuts for healthcare and retirement programs that threaten to overwhelm the federal budget.

Nov 19, 2011

Analysis – U.S. debt battles to persist no matter what

WASHINGTON (Reuters) – It is make or break time for a special U.S. committee on deficit reduction, but even if it succeeds in striking a last minute deal, it will not be enough to address future financial strains from an aging population.

The panel needs to have a deal in hand by Monday to meet a November 23 deadline for a vote by the 12 “super committee” members. But as negotiations enter the final days after more than two months of intense talks, the six Democrats and six Republicans remain far apart on the central issues of tax increases and spending cuts for healthcare and retirement programs that threaten to overwhelm the federal budget.

Nov 18, 2011

Deficit-cutting panel may scale back efforts

WASHINGTON (Reuters) – Members of a U.S. Congress deficit-reduction committee considered scaling back their efforts Thursday amid a Republican split over taxes and mounting doubts of reaching a deal by next week’s deadline.

The 12-member “super committee” has until midnight on Wednesday, the day before the Thanksgiving holiday, to reach a deal to cut U.S. deficits by at least $1.2 trillion over 10 years.

Nov 17, 2011

U.S. Republicans split on taxes in debt deal

WASHINGTON, Nov 17 (Reuters) – U.S. Republicans faced a
divisive internal debate over taxes on Thursday as lawmakers
from the party’s conservative wing urged a deficit-reduction
committee to rule out any deal that includes tax increases.

The message in a letter from 72 rank-and-file Republican
lawmakers further squeezes Republicans on the 12-member “super
committee,” who are struggling to reach a deal with Democrats
that would produce at least $1.2 trillion in budget savings
over 10 years.

    • About Donna

      "Washington congressional correspondent specializing in economics, taxes and budget issues. Covered the healthcare reform legislation and President George W. Bush's push to overhaul Social Security. Also covered the savings and loan crisis and spent time covering the White House during President Bill Clinton's administration. Covered trade and Federal Reserve policy as well."
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