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Maryland Senators Would Compromise On Write-offs In Debt Ceiling Talks

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Sen. Ben Cardin says he's willing to compromise on tax write-offs in debt ceiling talks that continue this week.
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Sen. Ben Cardin says he's willing to compromise on tax write-offs in debt ceiling talks that continue this week.

Congressional Democrats are increasing pressure on Republicans to end tax write-offs for things like jets, yachts and thoroughbred horse owners -- all of which are important to Maryland.

But Maryland Sen. Barbara Mikulski (D) says she's willing to end those tax expenditures if the GOP will agree to raise taxes and end oil and gas subsidies.

"I'm willing to have all things on the table and look at the revenue, but if it's going to hurt one of us than everybody's going to have to make sacrifices," Mikulski says.

Republicans accuse Democrats of using tax expenditures as a smoke screen because they amount to billions of dollars in spending, rather than the trillions they'd like to see cut.

But GOP leaders still say their conference opposes any new taxes. On the Senate subway just before the July Fourth weekend, Sen. Ben Cardin (D-Md.) said Republicans need to sacrifice more of their sacred cows to reach a deal.

"I think you need, if you're going to have a credible plan to deal with the deficit it must include revenue," Cardin says. "I don't see how you do it without revenue. The numbers don't add up."

Democratic leaders are holding high level talks with the White House this week in the hopes of finding a compromise deal to raise the nation’s debt ceiling.

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