Debt Accord May Be ‘Two-Step Process,’ Hensarling Says
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The congressional committee charged with crafting a plan to cut the U.S. debt may use a “two-step process,” agreeing only on a broad framework for deficit reduction by its Nov. 23 deadline, the panel’s top Republican said.
Representative Jeb Hensarling of Texas, the co-chairman of the bipartisan supercommittee, said panel members might reach an accord on overall numbers for tax revenue increases, leaving it to other congressional panels to work out the details.