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Buffett willing to show the money to tackle national debt

Warren Buffett is willing to put his money where his mouth is, if only congressional Republicans would join him.

The American billionaire investor, in the new issue of Time magazine, says he would donate $1 to paying down the national debt for every dollar donated by a Republican in Congress. The only exception is Senate leader Mitch McConnell – for whom Mr Buffett said he would go $3-to-$1.

The idea stems from a New York Times opinion piece Mr Buffett, pictured, wrote last August in which he said the rich ought to pay more taxes. It sparked a controversy, with some Washington conservatives calling on the 81-year-old "Oracle of Omaha" voluntarily to pay extra.