1. FISCAL CLIFF

    Durbin: Dems Have a Debt Plan

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    Illinois Democratic Sen. Richard Durbin said Tuesday that his party has figured out a way to avoid the fiscal cliff, but Republicans will have to compromise on raising taxes for the wealthy. Voters endorsed the idea of asking the wealthiest to pay a little more, Durbin said in a speech at the Center for American Progress, a liberal think tank. The Senate has already passed a bill that would raise rates on those making more than $250,000 a year. Several GOP senators have said they could go along with the plan, however, House Republicans haven’t been nearly as conciliatory, arguing that there isn’t enough time to make the comprehensive changes they are seeking, such as turning Medicare into a premium-support plan.

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