Cliff Compromise Takes Shape

The White House and Senate Republicans "are closing in on a budget compromise that would raise tax rates on couples making more than $450,000 a year, increase taxes on large inheritances and extend unemployment benefits for a year," the Wall Street Journal reports. "However, with the New Year's deadline approaching, negotiators were hung up on how, if at all, to postpone the $110 billion in spending cuts due to take effect Jan.

 

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