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Lawmakers Stand Firm On Taxes As Talks Start
The Associated Press reports: “Democrats and Republicans are working to reach a deal to extend Bush-era tax cuts that expire at the end of the year, but neither side is budging as negotiations begin in earnest. Even as they talk, House leaders are planning to hold a politically charged vote Thursday to extend middle-class tax cuts while letting taxes for the wealthy expire. The bill, even if it passes the House, stands no chance in the Senate. Nevertheless, Senate Majority Leader Harry Reid, D-Nev., said he is considering holding a similar vote.”

Obama’s Day Ahead
President Obama and Vice President Biden will receive the economic daily briefing at 9:15 a.m. ET, and the presidential daily briefing at 10:15 a.m. ET. Obama will meet at 10:45 a.m. ET with senior advisers, and will meet at 12:45 p.m. ET with D.C. Mayor-elect Vince Gray.

Clinton Says WikiLeaks Won’t Hurt US Diplomacy
The Associated Press reports: “The leak of thousands of sensitive U.S. embassy cables will not hurt American diplomacy, U.S. Secretary of State Hillary Rodham Clinton declared Wednesday at a security summit. Clinton said she has discussed the revelations published on the WikiLeaks website with her colleagues at the summit in Astana, the capital of Kazakhstan. The event is the first major international meeting of leaders and top diplomats since the memos began appearing on the website and in international publications this week.”

Republican Lawmakers Compete To Lead Key House Committees
The Washington Post reports on the jockeying among House Republicans for chairmanships: “Most chairmanships are a done deal, with the ranking Republican taking over from the outgoing Democrat. But several big ones are up for grabs, including Appropriations, which approves more than $1.1 trillion in spending, and Energy and Commerce, which oversees sectors that represent more than half of all U.S. industry. The process, which is likely to culminate next week, will provide an early indication of how Rep. John A. Boehner (Ohio), the next House speaker, intends to manage a conference of at least 242 Republicans with divergent views on governing.”

Delaying Vote, Debt Panel Splits On Taxes And Spending
The New York Times reports: “The chairmen of President Obama’s debt-reduction commission have been unable to win support from any of the panel’s elected officials for their proposed spending cuts and tax increases, underscoring the reluctance of both parties to risk short-term political backlash in pursuit of the nation’s long-term fiscal health. The chairmen of the commission — former Senator Alan K. Simpson, a Republican, and Erskine B. Bowles, a Democrat and former chief of staff to President Bill Clinton — delayed for two days, until Friday, a final vote by its 18 members.”

Centrist Democrats Fear Tax Cut Follies
Roll Call reports: “Several House Democrats are raising doubts about leadership plans to hold a vote to extend only middle-class tax cuts, saying the strategy — designed to bolster Democrats’ 2012 election prospects — could backfire… But some centrist Democrats, who prefer a short-term extension of tax cuts for all income brackets, worry that having a vote this week on just the middle-class tax cuts leaves them vulnerable to GOP attacks claiming that they effectively supported a tax increase for higher wage earners.”

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