Republican leaders in the U.S. Congress say they are now willing to break a no-tax pledge as part of a comprehensive deal to reduce the massive federal deficit.

The comments came Tuesday, as the bipartisan special committee of six Democrats and six Republicans tries to agree on a plan aimed at cutting $1.2 trillion from the deficit over the next decade. The so-called “supercommittee” has until November 23 to come up with a plan. Failure to act by that deadline would trigger automatic spending cuts in defense and domestic programs that would begin in 2013.

Republicans who have spent months insisting on spending cuts alone to balance the budget say they submitted to the committee a proposal that includes new tax revenue, combined with deep cuts to domestic programs championed by Democrats.

U.S. President Barack Obama, a Democrat, has signaled a willingness to restructure costly programs that provide income and health care to retirees. On Sunday, Mr. Obama said he hopes the leaders of the committee will do what is necessary in the coming days to agree on a plan.

Republicans have been reluctant to support tax increases, while Democrats have opposed deep cuts to health care and retirement programs.

Democratic Senate Majority Leader Harry Reid said time was fast running out but that the panel's Democrats “still think they can get something done.” Republican Senator Lamar Alexander said “failure is not an option.”