U.S. Deficit Panel’s $3.8 Trillion Plan on Brink of Rejection
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A presidential commission’s $3.8 trillion debt-cutting plan is set to be rejected after five members from both political parties said they would oppose its mix of tax increases and cuts in programs such as Social Security and Medicare.
The commission appointed by President Barack Obama, scheduled to vote today, needs approval from 14 of 18 members to forward the proposal to Congress for consideration.