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Lew Says Tax-Break Extension Plan in Congress Is Irresponsible

U.S. Treasury Secretary Jacob J. Lew called a potential agreement to revive and extend lapsed tax breaks “fiscally irresponsible,” casting uncertainty over year-end negotiations in Congress.

Lew was responding yesterday to talks between Republicans and Democrats that would make permanent a few of the tax breaks that expired at the end of 2013 and continue others through 2015. Lawmakers are discussing a package that could increase the U.S. budget deficit by more than $400 billion over a decade.