Possible Breakthrough in Budget Talks

According to the Financial Times, the budget conference committee currently working to avoid another government shutdown in mid-January “experienced a breakthrough in recent days.”

“According to people close to the talks, the contours of a deal are coming together to replace some sequestration cuts with a mix of spending cuts and new revenues derived from higher government fees. The deal would set spending levels for one or two years.”

“On the chopping block are items such as farm subsidies and federal employee pensions on the spending side, and increases in transportation security fees, which would anger airlines, and money from wireless spectrum auctions.”

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