Democrats Present Menu to Eliminate Corporate Tax Breaks
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Democrats gave Republicans a “menu of options” for phasing out tax breaks for corporations as part of the debt-reduction negotiations led by Vice President Joe Biden, said Maryland Representative Chris Van Hollen, a Democratic member of the bipartisan group.
Talks at today’s meeting centered on how to control the debt long-term through caps on the budget deficit that could include automatic spending cuts and higher taxes, which Democrats favor, Van Hollen said. Republicans favor dollar-specific spending caps and oppose tax increases.