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Official: Dems reject latest GOP deficit offer

3 years ago November 18, 2011 Nov 18, 2011 Friday, November 18 2011 Friday, November 18, 2011 1:36:51 PM CST in News
Source: Associated Press

WASHINGTON - A congressional official says Democrats on the deficit-cutting supercommittee have rejected a last-ditch offer from the Republicans that would curb deficits by $545 billion over
the next decade.

The latest development raised serious doubts about the 12-member bipartisan panel reaching an agreement by Wednesday's deadline.

Democrats called it a "halfway" proposal and said it was unbalanced because it included just $3 billion in tax revenue.

The panel's mandate is to produce a plan to cut deficits by at least $1.2 trillion over 10 years.

If they fail, it would trigger automatic, across-the-board cuts to the Pentagon and a wide variety
of domestic programs.

The congressional official spoke on condition of anonymity because of the sensitivity of the talks.

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