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Congress makes progress on tax cuts and budget

Tax cut from Twitter

Congressional leaders say they’re ready to push a compromise on tax cuts and spending through the House and Senate. Republicans announced on Tuesday that bargainers agreed to a bipartisan package extending dozens of tax breaks for businesses and families, and financing of the government for 2016. House and Senate leaders hoped to drive the legislative grab bag through their chambers on Thursday. There were dissenters in both parties, but passage was likely and President Barack Obama’s signature seemed assured. The accord bears victories for everyone from oil companies and working-class families to 9/11 emergency workers and biomedical researchers. Temporary financing of federal agencies expires Wednesday at midnight, so congressional leaders also planned to approve a bill preventing a government shutdown through next Tuesday, giving lawmakers time to finish the long-term spending legislation.