Does the debt deal include tax policies? Step One of the plan includes $917 billion in spending cuts only. But Step Two calls on a special “Joint Committee” to develop an additional package of deficit reduction that could include revenue provisions. Here are the details.

Under the plan, the new Joint Committee would be made up of six members each from the House and Senate, evenly divided between Republicans and Democrats. This Joint Committee would be asked to develop a package of deficit reductions equal to $1.2 trillion or more, and to report that package out by November 23rd. It would …

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