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View Diary: Saxby Chambliss says Grover Norquist is not the boss of him (82 comments)

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  •  Yeah, I'm skeptical about that too (0+ / 0-)

    Here is the link to what Ezra says, and note it is speculation:

    Here’s how it could work: The top-income tax cuts expire, as Obama wants. Those cuts only raise about $80 billion in 2013, so they’re a “down payment” on reform. And their cost is that the Democrats identify roughly $80 billion in spending cuts that can be passed into law now — so Republicans also get a “down payment” on the bigger deal. And all this happens in the context of a framework for a larger deal, which includes the promise of tax reform in 2013.
    I could see them agreeing to the 1:1 deal for one year, as outlined here, if they could get better terms for next year, in the the new sequester or trigger or whatever you want to call it.

    I dont think there is going to be any deduction cap or repeal of tax breaks in a lame duck fiscal cliff deal. It's too complicated and there are lobbyists for every tax break who will fight for them. It wont happen outside of a comprehensive tax reform deal.

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