2:59 PM
Julio Barreto
House Majority Leader Eric Cantor’s decision to abruptly leave the deficit reduction talks throws another wrench into bipartisan efforts to reach a compromise on reducing federal spending. Republicans hard line on any tax increases or elimination of tax loopholes will make it extremely difficult to reach an agreement before the deadline to raise the nation’s debt limit.If the Republicans are successful, domestic programs, including affordable housing programs are at risk of deep reductions over the next several years. Talks seemed to be progressing to the point where budget parameters for the next few years were coming into sharper focus. However, Cantor’s action and the Republican’s insistence on receiving a pledge from the president pretty much ensures an agreement will not be reached by...
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