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Deal Takes Shape, Spending Still at Issue

By Jonathan Weisman, New York Times - December 31, 2012

WASHINGTON — Vice President Joseph R. Biden Jr. and Senator Mitch McConnell, the Republican leader, on Monday reached agreement on a tentative deal to stave off large tax increases starting on Tuesday, but remained stuck on whether and how to stop $110 billion in across-the-board spending cuts in 2013, an official familiar with the negotiations said.

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