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U.S. budget battle looms

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July 28, 2013 AT 10:32 AM
Last December's showdown over tax policy, while unpleasant, turned out to be just a minor speed bump for the U.S. stock market, which raced to record highs after Congress struck a last-minute deal on New Year's Day.But with investors already nervous about the Federal Reserve's plan to start scaling back its stimulus program, another fiscal policy standoff could be more disruptive this time around.