It’s taxes, or else, says the chairman of the Senate Armed Services Committee, taking a hard line when it comes to ongoing budget negotiations in the U.S. Congress. “This is all going to be determined by one word: revenues,” Sen. Carl Levin (D-Mich.) said during a discussion at the Council on Foreign Relations in Washington Oct. 21. Republicans, he says, have been unwilling to consider tax increases as a way to reduce the deficit by more than $1.2 trillion over the next 10 years. Without ...

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