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Hagan: long-term, bipartisan approach needed on spending cuts

Sen. Kay Hagan says she’s meeting with a group of nine other Democrats and 10 Republicans to look for an alternative to the automatic federal spending cuts (also known as sequestration) that go into effect on Friday.

Hagan told reporters in a conference call Tuesday morning that the group of 20 is looking at a new proposal from Erskine Bowles and Alan Simpson. The two have said start with $1.5 trillion in spending cuts and later go on to more cuts and tax and entitlement reforms.

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