President Barack Obama is summoning top congressional Republicans and Democrats to a rare Sunday meeting at the White House to begin "hard bargaining" on a broad debt-reduction deal.
At the July 10 session Obama will make his latest bid to break a partisan impasse over whether to include cuts in entitlement programs and tax increases in an agreement. Both sides in the debate are signaling openness to compromise on each front.
Republicans, pressed by Obama to consider raising taxes to reduce the debt, are weighing whether to close loopholes and eliminate some tax breaks in exchange for a commitment from Democrats that Congress will act later on a broad overhaul that lowers tax rates, a Republican congressional aide said.
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