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Republicans on Hill agree on no tax hike, big deficit

By With Analysis From Monitor Correspondents Around The World, Edited By Clara Germani / October 23, 1981


House and Senate Republican leaders agreed on a budget strategy that appeared to rule out tax increases this year and recognized that the federal deficit could be almost twice the size that President Reagan projected.

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The deficit may run as high as $80 billion in 1982, said Senate majority leader Howard H. Baker Jr. of Tennessee.