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Breaking News: deal reached on key health care component

Major Garrett reports that the White House has reached a deal with the House and Senate on a key provision of the health care reform bill.

The agreement involves an excise tax on so-called "cadillac plans" that was a contentious issue for labor unions.  White House Communications Director Dan Pfeiffer said it will "improve the core goal" of applying "downward pressure on long-term health care costs."

Developing...