Updated Thursday, July 10, 2014 as of 1:19 PM ET

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House Republicans Propose $2.2 Trillion Fiscal Cliff Plan

James Rowley and Heidi Przybyla

House Republicans, rejecting President Obama’s demand for higher tax rates, countered with a $2.2 trillion deficit-cutting plan that would trim Medicare and Social Security and cap tax deductions for top earners.

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