Senate Democrats have proposed a $110 million measure calling for the replacement of across-the-board spending cuts with a combination of defense spending reduction, the ending of agricultural subsidies and increased tax revenue from millionaires, CNN reports.

Republican Congressional leaders have demanded the Democrats come up with a plan for avoiding these imminent sequester cuts. Republicans, however, oppose any increase in taxes or other measures to increase national tax revenue.

The Democrat plan represents the latest of a series of debates and proposals for deficit reduction and spending cuts, which figured prominently in the 2012 presidential election.

 

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