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Post by bot on Oct 24, 2013 17:41:40 GMT -5
Lew: Two sides can find common ground on budget
WASHINGTON (MarketWatch) - Treasury Secretary Jacob Lew on Thursday offered to find common ground with Republicans on a new plan to cut the deficit. In a speech at the Center For American Progress, Lew laid out some markers for a deal, saying that it was "crucial" that any agreement close tax loopholes. "Some" of the revenue from the tax changes should be used to make "targeted investments" in manufacturing and education, he said. Lew once again called for the replacement of across-the-board spending cuts, known as sequestration, with "commonsense" measures to rein in spending. But Lew said he was convinced the two sides could reach a deal. "I remain convinced that the tradition of compromise, bipartisanship, and building consensus is not a thing of the past," Lew said.
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