Sources: Obama may send fiscal cliff tax details to Congress Thursday
December 27th, 2012
01:45 PM ET
1 year ago

Sources: Obama may send fiscal cliff tax details to Congress Thursday

(CNN) - Two sources on Capitol Hill say President Barack Obama told Senate Republican Leader Mitch McConnell he would send Congress a scaled back fiscal cliff measure on Thursday.

Two senior White House officials, however, later said the president will not send Congress a proposal.

The Capitol Hill sources say such a bill would include elements of Obama's tax plan, which would prevent some of the tax hikes scheduled to take place in the new year, according to the sources.

Democratic sources are not ruling out the White House clarifying what Obama's proposal is, something McConnell has insisted would be a next step.

McConnell has said he cannot say whether he would require a simple majority or 60 votes for passage in the Senate until he sees Obama's proposal.

It is expected that the measure would extend the Bush-era tax breaks for income under $250,000, extend the current estate tax rate, and extend unemployment insurance. The estate tax extension is on Republicans' wish list for a deal.


Filed under: Fiscal Cliff • President Obama
soundoff (56 Responses)
  1. Malloy

    How long will it take for McConnell and the Teapublicans to say NO! Let's start the pool at 30 seconds.

    December 27, 2012 01:03 pm at 1:03 pm |
  2. Frank - FL

    It's about time this President got back to work! Hope you enjoyed your expensive Hawaiian vacation on the tax-payer's backs!

    December 27, 2012 01:04 pm at 1:04 pm |
  3. myviewis

    Doesn't President Obama know that Democrats are against the Bush-era Tax Breaks, Democrats don't want the Bush -era Tax Breaks to continue??????? Why would any Democrat want this "It is expected that the measure would extend the Bush-era tax breaks for income under $250,000"????????? According to Democrats the Bush -era Tax Breaks were bad, very bad and it only helped the rich, the wealthy and not the middle class.

    President Obama was voted in for a 2nd term because he was supposed to get rid of the Bush Tax Breaks, I think Democrats need to remind Obama of this and get rid of the Bush Tax Breaks.

    December 27, 2012 01:11 pm at 1:11 pm |
  4. Rudy NYC

    So, the plan contains basically three major parts.

    1. Extend Bush Era Tax Cuts for the middle class, the 98%. [both sides appear to agree on this point.]
    2. Extend long term unemployment benefits [appears to be on Democratic wish list.]
    3. Extend the inheritance tax [appears to be on Republican wish list.]

    Both sides get something they agree that we need, something they want, and something they don't like. Sounds reasonable, but McConnell is still holding out until he reads the proposal. I expect this measure to pass the Senate. I would expect such a measure to be voted down in the House, assuming that it even reached the floor.

    December 27, 2012 01:13 pm at 1:13 pm |
  5. myviewis

    ART

    I know one thing for sure, I will never ever vote for any Republican. I do not care who they are what office they are running for, they will never ever ever get my vote.They are a bunch of useless nincompoops.
    ------------------------------------–

    So then why would President Obama and Democrats want to keep the Bush-era Tax Breaks in place????? I agree with you that the Republican Bush Tax Breaks should go away completely. No need to keep something around that a as you said a Republican "nincompoop" like President Bush created.

    December 27, 2012 01:13 pm at 1:13 pm |
  6. Kr55

    Estate tax breaks are on the GOP wishlist, but tax breaks for people making <250k/year isn't? Seriously, they don't even attempt to hide that all they care about is the super rich anymore.

    December 27, 2012 01:14 pm at 1:14 pm |
  7. myviewis

    Frank – FL

    It's about time this President got back to work! Hope you enjoyed your expensive Hawaiian vacation on the tax-payer's backs!
    -----------------------------

    In all reality President Obama went HOME for Christmas, he really didn't go on vacation. Hawaii is his home, was born there and raised there. Obama is NOT from Chicago.

    December 27, 2012 01:15 pm at 1:15 pm |
  8. Erica

    I typically do not respond on these boards...but people keep making comments that are just stupid.
    Frank–whether you like him or not, the President's family vacation was not paid for by the taxpayers. And if it was, did you have a problem with the vacations any other president's took??

    December 27, 2012 01:18 pm at 1:18 pm |
  9. The Other Dale

    Yeah, Obama, how dare you go away for Christmas just because everyone else in Washington did the same on the tax-payers' backs! Just because it's up to Congress to get this done doesn't mean you can actually do anything but sit in your office at the White House! Why, you could have been putting together a tax measure during a traditional Presidential holiday vacation that all the presidents before you have done and –

    Oh, you did? So you weren't really wasting anyone's time then, were you? Meanwhile Congress is saying they didn't do anything but go away for the holidays, aren't they? Boy, Republicans are going to look mightly goofy if they suggest you were wasting our time now, won't they?

    Nah, they'll just ignore you doing a good job like they always have.

    December 27, 2012 01:19 pm at 1:19 pm |
  10. jonquil

    Okay, this should pass, if Republicans are serious about "future generations", as they say. The estate tax break ensures that wealth can be more easily passed down to the next generation, so any who complain about bringing the tax rates for the wealthy up to, at least, the same percentages that middle class workers pay, is thinking about today's profits - not the future.

    December 27, 2012 01:19 pm at 1:19 pm |
  11. Claudia, Houston, Tx

    Don't worry Mr. President, the Congress will be back in time to argue about why Hagel, Kerry and others shouldn't be appointed, they could care less about the American people. If they would spend their time doing what they were appointed to do they wouldn't have time to "gang up" like a bunch of hoodlums.

    December 27, 2012 01:20 pm at 1:20 pm |
  12. CammieB

    Hey Frank – FL,

    Hawaii is a vacation spot to YOU....to the President....he went HOME for Christmas where his SISTER Maya, her husband and 2 daughters STILL lives. Just because your parents had and raised you in a less than picturistic city....is not the President's fault....blame your parents.

    December 27, 2012 01:22 pm at 1:22 pm |
  13. Fortinbras

    If there were EVER any doubt the republican party is the party of the wealthy...

    December 27, 2012 01:27 pm at 1:27 pm |
  14. Fortinbras

    Does the estate tax kill jobs too?

    December 27, 2012 01:30 pm at 1:30 pm |
  15. Rudy NYC

    Frank – FL ranted:

    It's about time this President got back to work! Hope you enjoyed your expensive Hawaiian vacation on the tax-payer's backs!
    ---------------–
    Gee, I seem to recall that he attended a memorial service for a highly decorated and distinguished Senator. He's also bringing the governer's nominee to replace the late Senator to DC, where he'll probably be sworn in today.

    Bush spent one third of his time while holding office on vacation. Between Camp David, Crawford, Texas, and daddy's estate in New Hampshire, and other unnamed locations, Bush-43 was a well traveled man.

    December 27, 2012 01:33 pm at 1:33 pm |
  16. Squigman

    Get the deal, and do it now. If any person of voting age isn't taking notes, they should be. Keep your notes, and use them the next election. Make sure to vote for those in favor of a deal, and not vote for those opposed to a deal. Those opposed, are only opposed because they believe they are protecting their rich friends. They're friends don't care about you. Never have, never will.

    December 27, 2012 01:37 pm at 1:37 pm |
  17. Fortinbras

    Put the Obama grand plan to a vote. And lets see if it gets enough republican in the house to back it. They are now fractured and leaderless. The plan would only require 10 percent of the republicans in the house to back it.

    December 27, 2012 01:38 pm at 1:38 pm |
  18. Mahan

    Obama has to look like he has done something other than campaign and demonize Americans. Its never anything productive just pandering to the simple lunatics here who think the tea party is still relevant.

    December 27, 2012 01:50 pm at 1:50 pm |
  19. Rick McDaniel

    That will be rejected.

    December 27, 2012 01:51 pm at 1:51 pm |
  20. ST

    Were republicans elected to tackle complicated matters or just to cash in their checks? How can any responsible person not take this issue seriously? I have never heard of any dysfunctional people of this kind.

    December 27, 2012 01:56 pm at 1:56 pm |
  21. Ray

    If the House votes this down, they are traitors letting America go over the cliff. UnAmerican.

    December 27, 2012 01:57 pm at 1:57 pm |
  22. curious

    I predict President Obama will have a democrats as a majority in Congress and in the Senate after the 2014 elections.

    December 27, 2012 02:02 pm at 2:02 pm |
  23. California Gary

    @Malloy........put me down for 3 minutes in your pool. I figure 2 minutes for him to scan through it, 1 minute of laughing, and then the big NO!

    December 27, 2012 02:03 pm at 2:03 pm |
  24. Rudy NYC

    Rick McDaniel wrote:

    That will be rejected.
    -----------------
    Why would "that will be rejected", and by whom?

    December 27, 2012 02:05 pm at 2:05 pm |
  25. Sheila

    this is insane – the best thing for this country is to go over the so called "cliff" lol – then maybe everybody will pay their fair share – even the billionaires and millionaires. It will hurt the big money people much more, than us people thaat live on 50K a year, or less. ( we are used to being poor ) 50K isn't rich by no means, when you have a car payment / house payment & etc.

    December 27, 2012 02:11 pm at 2:11 pm |
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