December 3rd, 2012
03:04 PM ET
5 years ago

BREAKING: House GOP offers fiscal cliff counterproposal

(CNN) - House Republicans are making a counter-offer Monday to the White House on a fiscal cliff deal, but they continue to reject President Barack Obama's call for higher tax rates on the wealthy.

The new proposal to avoid the fiscal cliff would bring $2.2 trillion in savings over the next decade. These would include $800 billion from tax reform, $600 billion from Medicare reforms and other health savings, and $600 billion in other spending cuts, House GOP leadership aides said Monday.

Filed under: Fiscal Cliff • House
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