WASHINGTON — An independent watchdog group has proposed $2 trillion in deficit reductions, including slashing the deduction of state and local general sales taxes to save more than $23 billion over 10 years.

In a 35-page report published Monday, Taxpayers for Common Sense identified more than 100 specific cuts that could serve as an alternative to the looming automatic budget cuts known as “sequestration.”

Subscribe Now

Independent and authoritative analysis and perspective for the bond buying industry.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.