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Congress: Cantor walks away

“Congressional Republicans abruptly pulled out of debt-reduction talks with the White House on Thursday and demanded that President Obama meet directly with GOP leaders to resolve an impasse over taxes,” the Washington Post says. “With the clock ticking toward an Aug. 2 deadline, senior Republicans said negotiations led by Vice President Biden had ceased making headway as congressional Democrats pressed for as much as $400 billion in new taxes on corporations and the nation’s wealthiest households.”