Deficit Talks Thaw As Another Republican Backs Revenue Increase

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A central sticking point in negotations over a deficit reduction compromise has been increasing revenue: President Barack Obama has said emphatically that spending cuts must be offset by measures to generate more tax dollars, while Republicans have dismissed such a measure as being tantamount to a tax hike.

But there seems to be progress. Last week the Senate voted by a wide margin to repeal ethanol subsidies, a mostly symbolic move that showed Republicans were willing to consider eliminating tax breaks as a weapon to reduce the deficit. Sen. Lindsey Graham (R-SC), appearing on "Meet the Press" this Sunday, reiterated that position.

Deficit Talks Thaw As Another Republican Backs Revenue Increase

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