Progress seen in US budget talks as deadline looms

Negotiators made progress overnight as they tried to reach a last-minute US budget deal that would let income taxes go up on some top earners.

31st December, 2012
Progress seen in US budget talks as deadline looms
Washington

Negotiators made progress overnight as they tried to reach a last-minute US budget deal that would let income taxes go up on some top earners.

With taxes set to increase for almost every U.S. worker at midnight, there is still no agreement and gaps between the two parties remain, according to people familiar with the talks who requested anonymity. Republicans and Democrats were narrowing the threshold for tax increases to between $400,000 and $500,000 in...

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