... are not there yet. The president put forward another proposal Monday that called for $1.2 trillion in revenues and leaving in place existing tax rates for households earning more than $400,000 a year. That marks a shift from Mr. Obama's offer last week that included a target ...
... could determine America's fiscal health. "That pledge is making it impossible for reasonable people to have a reasonable discussion about taxes in the Congress," Bill Gale of the Brookings Institution said during a Politico tax policy briefing Monday. "If you've taken tax increases off the table, you have ...
... trillion from $1.6 trillion over 10 years. That still leaves the two sides $600 billion apart and deadlocked over what to do about tax rates. The president said Tuesday that he expected Republicans to back off their opposition to raising rates for the top 2 percent of wage earners ...
... including the rich. The second, supported primarily by Democrats, would extend the current low rates only on income less than $250,000 a year, allowing rates for the wealthy to increase. Both measures would go to the Democratic-controlled Senate, which would then pass only the Democratic bill. LINE ITEMS ...
... Roundtable in Washington, where, according to a White House official, "he will reiterate that he will not accept a deal that doesn't include higher rates on the wealthiest individuals." The president will also ask the leaders "for their help in supporting an approach that resolves the debt limit without ...
President Obama. File photo by Alex Wong/Getty Images. Four days after having its initial offer to avert the year-end fiscal cliff rejected by House Republicans, the Obama administration got to return the favor Monday when GOP lawmakers put forward a plan with $800 billion in fresh revenues but does not raise tax rates on wealthier...
Congressional Leaders Meet With President Barack Obama and Vice President Joe Biden. Photo by Reuters/ Larry Downing.) Fall creeps towards winter in Washington and the chill is reaching an equilibrium in the Capitol. Votes are still being tallied in the just-concluded 2012 election and partisanship continues to permeate our nation's capital like cold air through...
Treasury Secretary Timothy Geithner arrives at the Capitol on Thursday for meetings on the fiscal cliff. Photo by Benjamin Myers/Reuters. Treasury Secretary Timothy Geithner delivered President Obama's opening bid in the fiscal cliff negotiations to congressional leaders on Thursday, a proposal that includes $1.6 trillion in new taxes over the next decade, $50 billion in...
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