White House in talks to replace sequester: WSJ
WASHINGTON (MarketWatch) — The White House is an advanced internal discussions on a plan to replace the sequester with a smaller package of spending cuts and tax increases, The Wall Street Journal reported, citing people familiar with the planning. The idea would be to push larger deficit-reduction talks into the middle of 2013. House Republicans so far have discussed a similar model, albeit without replacing the non-defense domestic cuts and without tax increases. White House talks with Congressional Democrats and Republicans are due to start Friday.