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Pelosi Says Any Debt Deal Will Have to Reduce Tax Subsidies

House Minority Leader Nancy Pelosi said reductions in “tax subsidies” for companies must be part of any deal to cut the U.S. budget deficit and increase the federal debt ceiling.

Democratic President Barack Obama and Republican House Speaker John Boehner will need the support of Democrats to get an agreement through the House, Pelosi said yesterday in an interview on CNN’s “State of the Union.” Such an agreement would have to include both spending cuts and an end to tax breaks for some industries such as oil, she said.