Updated Wednesday, September 2, 2015 as of 2:28 AM ET

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Budget Talks Stall Over Income, Estate Taxes as Jan. 1 Nears

James Rowley and Richard Rubin

With little more than a day remaining to avert tax increases for almost every U.S. worker and to halt federal spending cuts, Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell worked to bridge gaps over income tax rates, the estate tax and other issues.

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