Senate Deadlock Blocks Broad Federal Spending Cuts
Senate lawmakers rejected both GOP and Democratic plans to avert 85 billion dollars in automatic spending reductions. The chamber did not reach 60 votes on substitutes, with Republicans backing a plan for alternative cuts and Democrats pushing a decade-wide plan with tax hikes. Stocks edged down slightly as leadership warned of no immediate tax deadlines, while Toomey urged targeted savings and avoidance of needless cuts.
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Colorado panel backs 15 percent marijuana excise tax for schools
A Colorado state panel recommends a 15 percent excise tax on marijuana with proceeds directed to school construction and funding for safety enforcement and education. Lawmakers may set a lower tax, add sales taxes, or create a dedicated marijuana tax, with final decisions likely returning to voters.
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Texas Senate panel backs 1.4 billion boost for public schools
Texas Senate Finance Committee approves about 1.4 billion more for public education in a 35 billion budget plan move toward restoring funding after 2011 cuts. Chair Tommy Williams calls a 40 million prekindergarten boost a down payment while Democrats urge continued education priorities amid debates over testing and charters.
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