With the deficit reduction talks just beginning, it appears Democrats’ first solution out the gate is tax hikes. According to Congressional aides working on the committee, Republicans would prefer to discuss budget cuts first. While the six Senators and six Representatives squabble on where to begin the process, a November deadline looms right around the corner. The “super committee” must find $1.2 trillion in savings over ten years by the end of November so both chambers of Congress can vote on the agreement by December 23, 2011. Read the full Reuters article here.
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