Sources: Obama may send fiscal cliff tax details to Congress Thursday
December 27th, 2012
01:45 PM ET
2 years 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. sonny chapman

    The ability of America to govern itself looks very dim right now. King George was right; democratic rule is folly.

    December 27, 2012 02:15 pm at 2:15 pm |
  2. Anthony

    I meant "if you want to try again with the next debt ceiling, good luck." Not that it makes a whole lot of difference to Republicans. They will get a tax hike whether they make a deal or not.

    December 27, 2012 02:18 pm at 2:18 pm |
  3. Kelby in Houston, TX

    The Republicans should have taken President Obama's first offer. It had tax increase. It had spending cuts. It addressed the problem

    December 27, 2012 02:20 pm at 2:20 pm |
  4. Hammerer

    Obama will not try to prevent the "cliff" his whole agenda is to punish the successful and reward the failures. He wants the taxes from the successful to reward the failures that voted for him with handouts.
    Cry no all you want but that is reality!

    December 27, 2012 02:21 pm at 2:21 pm |
  5. KJ

    The estate tax break does help not only the wealthy but those in the farming / agricultural business who wish to pass their farms down to the next generation – it's not always all about the rich.

    December 27, 2012 02:27 pm at 2:27 pm |
  6. CryBabies

    @Erica...You made the statement as it was fact. If so, who did pay for it...I'd like to get some of that frosting!

    December 27, 2012 02:28 pm at 2:28 pm |
  7. Charlie Daniels

    Here we go again Rudy. You do not think that McConnell should read the proposal and pull a Pelosi! I suppose the health care bill sounded "reasonable" as you say – until they actually read it.

    You are damn right the estate tax is a job killer. My wife's grandfather has thousands of acres of ag and ranchland that would be sliced apart in the near future and yes that land creates jobs. He worked his fingers to the bone and now you libs think that you deserve a piece.

    A multi million dollar vacation on your dime does not bother you people! Do you honestly think that he did not have several other houses, vehicles meals and transportation for all of the kings protection? Do not think for a secod he paid for this trip in full. If I was him, I would have done the same thing and create the working environment of attending the memorial service and then write of the whole damn trip. Throw a teleprompter speech here and there. Maybe bow to a few people. Those damn rich people get all the perks – don't they? HA.

    December 27, 2012 02:30 pm at 2:30 pm |
  8. joesmith46

    If the president were ever a decent comprimiser like bill clinton or mitt romney he could acutally propose something that's reasonable for all people; rather than his dictatorlike style. Honestly I look forward to the cliff to force the gov't to actually be balanced budget. Why does the news media point at repubs as the prob? Don't fall for the CNn rhetoric.

    December 27, 2012 02:34 pm at 2:34 pm |
  9. marita

    'Dana Bash is completely correct! 'Let the End-games begin'! This was all set into motion 2 years ago + they're still going around + 'round + 'round! It is so disturbing on so many levels! In the very end, Mr. Obama will get everything he wanted to begin with! He will gain politically by being able to blame the Republicans, and he'll get all the $$$ to spend, to get us deeper into debt! -@Marita.

    December 27, 2012 02:38 pm at 2:38 pm |
  10. CanadaONE

    If Bush did not introuduce the TAX CUTS you would not be in a serious DEFICIT – in short he sold you to China
    hence the fiscal cliff is NOT a Cliff but a smooth road to prosperity

    all Obama as to do by around April is add tax credit to the 98% so they get their taxes back

    when he pulls this off he can then argue that all the GOP does is destroy the American economy OVER and OVER and OVER again!

    he will be able to provide endless examples of how the GOP has hurt Americans

    the goal is by 2014 to have the house back to the Democrats so they can help fix your country without the GOP holding Americans hostage

    God Bless America – finally on the right track !!

    December 27, 2012 02:42 pm at 2:42 pm |
  11. patmcguinness

    The Republicans should have taken President Obama's first offer. It had tax increase. It had spending cuts. It addressed the problem"

    NO IT DIDNT! THAT IS UNTRUE! Obama and the Democrats increased spending by $1.3 trillion per year from FY 2007 to FY 2010. we now spend $3.8 trillion a year. ... Obama's 'offer' was for billions MORE in spending, no spending cuts, undo the spending cuts we have, and increases the deficit so we have $8 trillion more in debt by 2020.

    Obama also wanted $1.4 trillion in taxes ON TOP of the Obamacare tax hikes. That's $2.4 trillion in new taxes. The economy cant take that much in new taxes.

    It's insane.

    We need to cut spending and stop taxing, borrowing and spending and Obama wont do that.

    December 27, 2012 02:43 pm at 2:43 pm |
  12. Rudy NYC

    Charlie Daniels

    Here we go again Rudy. You do not think that McConnell should read the proposal and pull a Pelosi! I suppose the health care bill sounded "reasonable" as you say – until they actually read it.
    ------------------------–
    American Politics 101:

    1. June 2009, after having passed a Stimulus plan, President Obama announces plans for health care reform. Republicans immediately launch into sound bites about how "we will not participate in the destruction of America" and other grand remarks.

    2. July 2009, Repubilicans do not submit names for Congressional committees to explore ways to improve the health care systems. Republicans boycott meetings conducted by existing committees to explore health care.

    3. Aug 2009 – March 2010, Republicans complain that Democrats are scripting health care reform without their input.

    4. March 2010, Speaker Pelosi conducts news conference announcing a vote will be cast in the House for the American Care Act. A familiar right wing reporter asks Spkr. Pelosi about complaints from Republicans that they do not know what is in the bill.....

    .....and Speaker Pelosi replies with her now famous remark, "If they want to know what is in the bill, then they will just have to vote for it." Touche, Madame Speaker.

    December 27, 2012 02:43 pm at 2:43 pm |
  13. patmcguinness

    Estate tax breaks are on the GOP wishlist, but tax breaks for people making <250k/year isn't?"

    The GOP wants to preserve ALL the current tax rates for the middle class. They want no tax increases at all.

    Obama proposes a number of tax increases on the middle class but hides it by babbling about the rich. Obama has the Obamacare tax hikes that will add hundreds of billions in new taxes, much of it on the middle class. Obama also plan to increase investment tax rates which will hit middle class retirees and others.

    December 27, 2012 02:46 pm at 2:46 pm |
  14. patmcguinness

    "If Bush did not introuduce the TAX CUTS you would not be in a serious DEFICIT – "
    False. in FY2007 we had these same tax rates and the deficit was 1/5th its current level.
    It was the large increase in SPENDING that is responsible for our deficit. Spending went up by $1.3 trillion from 2007 to 2010, and the deficit went from $250b to $1.4 trillion... all that extra spending by Obama and the Democrats has been borrowed spending.

    It's absurd to pretend that you or I wont end up paying for that increased wasted spending by Obama and the Democrats. Obama's tax package includes tax increases on the middle class. Borrowed spending just means we will have higher taxes later.

    December 27, 2012 02:49 pm at 2:49 pm |
  15. janelle

    Mr. Obama, you continually talk about "millionaires and billionaires", yet when Republicans proposed exactly that, a tax increase on the millionaires and billionaires, you scoffed at it! Just where did you go to school that taught you 250 thousand is equal to 1 million? Where I went to school 1 million equals 1 million. 250 thousand equals one quarter of 1 million.

    December 27, 2012 02:54 pm at 2:54 pm |
  16. Rick McDaniel

    Doesn't matter. We all KNOW Obama's proposals will be exactly the same........his way or the highway.

    December 27, 2012 02:55 pm at 2:55 pm |
  17. janelle

    Only in liberal fantasy land does an increase actually mean a cut. Liberals say they cut spending, no they didn't. Instead of raising spending 8%, they are only raising it 4%. It is still a 4% increase, NOT a 4% decrease.

    If your boss tells you he wants to give you a 5 % pay increase next year, but then can only afford to give you a 3% increase, does this mean you got a 2% cut in pay? NO, you still got a 3% increase! You are still getting 3% more than you did last year.

    I honostly don't know who has less brains, the liberal politicians that think this crap up, or the people who vote for them that actually believe in it?

    December 27, 2012 02:59 pm at 2:59 pm |
  18. Gurgyl

    Stick to your guts–do not incline to thugs of this nation. HAPPY NEW YEAR.

    December 27, 2012 03:00 pm at 3:00 pm |
  19. Rudy NYC

    patmacguiness wrote:

    ... The GOP wants to preserve ALL the current tax rates for the middle class. They want no tax increases at all. ...
    -----------------
    We have had them for these rates in place for the past four years, yet according to Republicans the fiscal policy has been a complete and utter failure. Yet, someway, somehow, they can make this claim with a straight face....despite the fact that the policies are a continuation of their own from the Bush-43 administration....and now they argue to continue on with "the same failed policies" that Pres. Obama has had in place for the last four years? What is even more amazing how many devout followers of these insane incantations there are out there in the electorate.

    WHOA. Wait, hold on a sec. Sniff. Sniff. Smell that? There's a fungus, among us. It's the Tea Party.

    December 27, 2012 03:01 pm at 3:01 pm |
  20. lolo

    Why oh why do they keep blaming President Obama for the GOP mess? Just shameful I tell you. Let's see if Boehner will shed a tear now since he loves his country so much which he falsely claims just like the rest of the GOP stooges

    December 27, 2012 03:04 pm at 3:04 pm |
  21. Rudy NYC

    Rick McDaniel

    Doesn't matter. We all KNOW Obama's proposals will be exactly the same........his way or the highway.
    ---------------
    Doesn't matter? Is that the reason why you say, "That will be rejected." Because it doesn't matter what Pres. Obama proposes, that the Republicans will be against it?

    "Doesn't matter." Good answer, by the way. The simple truth.

    December 27, 2012 03:05 pm at 3:05 pm |
  22. patmcguinness

    ".....and Speaker Pelosi replies with her now famous remark, "If they want to know what is in the bill, then they will just have to vote for it." Touche, Madame Speaker."

    That's because Obama and the Democrats' claims that they would have the bill available for review were lies. They cooked it up in backroom deals and put it on the flloor to vote on it in the middle of the night – a 2000 page bill and no time to read it.

    You are a real shill if you think that is a good way to govern. It's horrible, and its the mis-leadership of Obama, Reid and Pelosi that has led to this current "governing by going from crisis to crisis". Our current crisis is due to their bad leadership and failure to have inclusive compromise – instead the Democrat leaders are 'my way or the highway', so of course we get no real deals.

    December 27, 2012 03:13 pm at 3:13 pm |
  23. Kelby in Houston, TX

    If President Obama sent tax details to congress pertaining to the fiscal cliff, shouldn't CNN report exactly what the President communicated to congress?
    ya know, so we common folk can know exactly what's being done in order to avert this fiscal cliff. When you leave out important details, stupid people jump to the wrong conclusion

    December 27, 2012 03:13 pm at 3:13 pm |
  24. patmcguinness

    "Only in liberal fantasy land does an increase actually mean a cut. Liberals say they cut spending, no they didn't. Instead of raising spending 8%, they are only raising it 4%. It is still a 4% increase, NOT a 4% decrease."

    Yup. Democrats raised spending by 40% – from $2.5 trillion to $3.8 trillion from 2007 to 2010 – they make no effort to cut any of that added spending back out. Proof that we are NOT cutting spending ... Will spending ever go below $3.8 trillion in any future year? Look at Obama's budget ... he wants it to go UP ANOTHER 20% !!! to $4.4 trillion per year! In his budget!

    That's total insanity. total bankruptcy for the nation. Anyone supporting Obama on taxes and spending is supporting another credit downgrade and bankruptcy for USA.

    December 27, 2012 03:15 pm at 3:15 pm |
  25. Rudy NYC

    janelle wrote:

    Only in liberal fantasy land does an increase actually mean a cut. Liberals say they cut spending, no they didn't. Instead of raising spending 8%, they are only raising it 4%. It is still a 4% increase, NOT a 4% decrease.

    If your boss tells you he wants to give you a 5 % pay increase next year, but then can only afford to give you a 3% increase, does this mean you got a 2% cut in pay? NO, you still got a 3% increase! You are still getting 3% more than you did last year.

    I honostly don't know who has less brains, the liberal politicians that think this crap up, or the people who vote for them that actually believe in it?
    ------------
    Spending has increased only 1.4% since Pres. Obama has been sworn in. Look it up. It's less than inflation. Those fairy tales that you recited are pretty amazing. You ask that right question. Who thinks that stuff up?

    December 27, 2012 03:16 pm at 3:16 pm |
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