December 15th, 2012
09:24 PM ET
10 years ago
Source: Boehner offers to include higher tax rates on wealthy to avoid fiscal cliff
Washington (CNN) - House Speaker John Boehner has offered to include higher tax rates on the wealthiest Americans as part of a deficit-reduction deal to avoid the fiscal cliff, a source close to the talks confirmed to CNN on Saturday.
The latest twist in the negotiations, first reported by Politico, indicates a possible breakthrough in the protracted efforts to forge a deal to reduce the nation's chronic federal deficits and debt.
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Should have happened about twelve months ago, but great first step.
Finally now if he drops to 500K he will get the deal done with cuts to defense leading the way. Negotiate drug prices will also save a lot. Jobs program while is spending also generates revenue.
Get this done before XMAS
Ok. Republicans are willing to make concessions. Obama's turn.
Well it is a start. We gotta get this done congress! This is affecting many of us. Companies are not hiring thanks to the gridlock. Time for compromise .
Sounds fair.
Why expect anyone to increase their tax rate without offering up a spending cut?
Obama is not showing a fiscal responsibility here. Obama just wants more to spend; and for what?
It is time to move this thing along. Now he can invest some time In dealing with poor people issues
.
I hope this is a good news to American.
sorry if you make 250000 a yr you can sacrafice a little more to the govt. I dont make that in 10 yrs
Don't fall for it. $250k & higher
well that is news. lets see if it is the same story by monday.
Why is this breaking news. We all knew he would. The question was when. He finally realizes they lost.
i predict they will settle on tax rates going up for incomes over $500K, and cuts totalling $500 Billions.
soundoff without a voting system is worthless.
Fair offer...250k too low I'd go as low as 500k no more
I think that John Boehner deserves credit for negotiating in good faith and showing a greater willingness to compromise that say, for example, Harry Reid (whom we have unsurprisingly heard nothing about for weeks). Now it's time for Barack Obama to fulfill his end of the bargain and offer significant short and long-term spending cuts.
the gop playing chicken with the cliff! They need to smell the coffee and do the right thing. The rich have been skimming the government for years and been getting all the cheap tax rates! I am very proud of Warren Buffett and the president! If you cut into medicare, medicaid, and social security. It will be no where enough to balance the budget and pay down debt without the rich apying more taxes. Close all of the loopholes for the rich as well! The entitlements don't need cut! It needs to be ran more efficently and cut waste and fraud. And give everyone of the congressmen and women a 25% pay cut!
Hang tough, Mr President! Please hang tough.
Oh, in other words he's not serious, just trying to score political points with his base and hold on to the Speakership. Gotcha.
This bad! No more investors.. china gonna have them now 🙁
Welcome the GOP to the real bipartisanship! 🙂 I'm a 'true' independent – twice voted for Reagan! If the GOP let the tax cuts for the rich expire, I expect Obama and the Democrats to uphold their end of the table.
This is very good news for our country indeed! We must work together to build a strong America. There is no IFs or BUTs!
Negotiate it down to 500,000-750,000 range, and make sure it is very serious about cutting spending too. Not a bad start 🙂
Did Boehner flinched?
Its about time, was that hard?
It really doesn't matter if he offers the rate hike,it's going to happen anyway. The American people voted and made a choice,and the choice was not to touch Social Security,med or medicare,oh yeah republicans u lost the election,and the President(obama),has a mandate,Let's go over the Cliff