WASHINGTON, Dec 31 (Reuters) - An emerging deal to avoid the U.S. 'fiscal cliff' would raise $600 billion in revenue over the next 10 years by increasing tax rates for individuals making more than $400,000 and households making above $450,000 annually, according to a source familiar with the talks.

The deal would also delay a series of spending cuts known as the 'sequester,' though a sticking point remains on how long that delay would last.

(Reporting by Jeff Mason and Roberta Rampton; Editing by Will Dunham) Keywords: USA FISCAL/DETAILS

(Jeff.Mason@thomsonreuters.com)(+1 202 898 8300)(On Twitter: @jeffmason1)(Reuters Messaging: jeff.mason.thomsonreuters.com@thomsonreuters.net)

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