WASHINGTON (AP) — Leaders of a bipartisan "Gang of Six" senators said Tuesday that they've reached agreement on a major plan to cut the deficit by more than $4 trillion over the coming decade in what could be a bold entry into a debate on the deficit long bogged-down by bitter partisanship.
More than $1 trillion of the deficit cuts would come from tax increases reaped as Congress overhauls the loophole-choked U.S. tax code. It would also repeal a long-term health care program established under the last year's health overhaul and force up to $500 billion in cuts from federal health care programs over the upcoming decade, according to documents provided to senators at a Tuesday morning meeting but not publicly released.
"The reaction was extremely positive," said Budget Committee Chairman Kent Conrad, D-N.D.
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