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Tuesday, August 02, 2011

Potential Tax Stress In House Approve Debt Deal

WASHINGTON | Mon Aug 1, 2011 6:02pm EDT
(Reuters) - If Congress passes the debt ceiling dealby Tuesday, as expected, it could trigger a battle over tax reform within weeks and turn Washington once again into a dateline for deadlock.
The deal calls for a 12-member special congressional panel to locate $1.5 trillion in budget savings by late November. Some panel members will push for the first major tax code overhaul in 25 years.

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