Sens. Ron Wyden, D-Ore., and Judd Gregg, R-N.H., outline their bipartisan tax-reform plan in a Wall Street Journal commentary. The plan is aimed at eliminating many specialized tax breaks, while creating fiscally responsible middle-class tax cuts, business tax breaks and a simpler tax system. "Of course, working together from different sides of the aisle means that neither of us got everything we wanted, but we are proud of what we did get: a comprehensive approach to tax reform that will give all Americans an opportunity to get ahead," they wrote.

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