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Senior congressional Republicans said on Sunday they see a chance for a broad deal with US President Barack Obama on deficit reduction and reining in spending on vast government programmes like Medicare and one senator signalled potential flexibility on taxes.
Obama, who met with lawmakers of both parties last week, has been calling for more tax increases on the wealthiest taxpayers, coupled with new spending cuts, to help curb Budget deficits that have exceeded $1 trillion in each of the past four years.
Speaking on the Fox News Sunday programme, Senator Bob Corker, a Tennessee Republican, said: "There, by the way, is a chance on a deal. I know the President is saying the right things. And we have an opportunity over the next four to five months."
Asked on the ABC programme This Week if prospects for a "grand bargain" were dead, House of Representatives Speaker John Boehner, the top Republican in Congress, said, "I don't know whether we can come to a big agreement. If we do, it'll be between the two parties on Capitol Hill. "
