Politics & Government

September 19, 2011 9:14 AM

Obama proposes $3.1 trillion tax and spending cuts package

President Barack Obama on Monday proposes a package of tax increases and cuts from projected spending totaling nearly $3.1 trillion over 10 years to slow down soaring federal budget deficits. His plan, which he'll detail in a Rose Garden address, will call for $1.5 trillion in tax increases over the decade starting in 2013, most of them on incomes above $200,000.

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