WASHINGTON (AP) — To reduce government red ink, Republicans are willing to raise government revenues, but not increase taxes. Congressional Democrats would accept reductions in Medicare spending, yet no cuts in benefits.
Parsing these distinctions appears to be key to the deficit reduction talks headed by Vice President Joe Biden, particularly with Republicans eager to protect their anti-tax credentials in 2012 and Democrats ready to campaign aggressively against a House GOP plan to remake Medicare.
In recent days, Senate Republicans have voted to end the government's subsidy of ethanol, raising questions about other tax breaks that might be eliminated as a way to reduce deficits.
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