US fiscal deal would raise tax rates, sticking point remain

By REUTERS
December 31, 2012 20:08

 
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WASHINGTON - An emerging deal to avoid the US "fiscal cliff" would raise $600 billion in revenue over the next 10 years by increasing tax rates for individuals making more than $400,000 and households making above $450,000 annually, according to a source familiar with the talks.

The deal would also delay a series of spending cuts known as the "sequester," though a sticking point remains on how long that delay would last.

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