Possible budget deal lists spending cut, tax increase

The White House and congressional leaders are near a budget compromise that would scale down spending in all areas and raise $120 billion in new taxes over three years, the Wall Street Journal reported.

But sources close to the secret negotiations said the two key figures in the budget impasse - President Reagan and House Speaker Thomas P. O'Neill II - have not passed judgment on the plan and still could veto it, the Journal said.

Share this story:

We want to hear, did we miss an angle we should have covered? Should we come back to this topic? Or just give us a rating for this story. We want to hear from you.

Loading...

Loading...

Loading...

Save for later

Save
Cancel

Saved ( of items)

This item has been saved to read later from any device.
Access saved items through your user name at the top of the page.

View Saved Items

OK

Failed to save

You reached the limit of 20 saved items.
Please visit following link to manage you saved items.

View Saved Items

OK

Failed to save

You have already saved this item.

View Saved Items

OK