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Senate Finance Committee Chairman Sen. Max Baucus, D-Mont. left, and the committee's ranking Republican, Sen. Orrin Hatch of Utah. (AP Photo/Charles Dharapak/File)

Deferring taxes on money saved for retirement could be a thing of the past, if Sen. Max Baucus, D-Mont., chairman of the Senate Finance Committee, and Orrin Hatch, R-Utah, ranking member, have their way.

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