Republican Representative Eric Cantor indicated that there could be a compromise on tax loopholes. Republicans and Democrats have been in talks about raising the $14.3 trillion debt ceiling and have been negotiating tax loopholes, tax increases, and spending cuts. The debt ceiling has to be raised byAugust 2nd to prevent a default.
To read a related Reuters article, please click here:
http://www.reuters.com/article/2011/07/06/us-usa-debt-idUSTRE7646S620110706
James Sutliff