WASHINGTON - Tax cuts and other legislation sought by the banking industry may remain in limbo until after Tuesday's election because contentious yearend negotiations with the White House have Republican leaders leaning toward a rare lame-duck session.

Meanwhile, Senate leaders took procedural steps late Monday to try to set up a vote on bankruptcy reform as early as today. Senate opponents of the bill, which President Clinton has repeatedly said he would veto, were considered likely to delay a vote, however, until later this week or to a lame-duck session, if one is called.

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