Sources: Obama may send fiscal cliff tax details to Congress Thursday
December 27th, 2012
01:45 PM ET
10 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.

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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. patmcguinness

    "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?"

    Obama has yet to negotiate. When Boehner went half way, Obama just cut off his hand. "I get that for free" he told Boehner.
    If Obama really went half way, cutting his "I want $1.4 trillion in new taxes" in half, and accepting 2 for 1 spending cuts for tax increases instead of spending increases ... THEN he'd get a deal.

    but Obama just wants GOP to be his errand boys "Here, pass the Democrat agenda for me" No can do.
    Obama is President, not dictator, but he doesnt know the difference.

    December 27, 2012 03:20 pm at 3:20 pm |
  2. Charlie Daniels

    Rudy – you are truly an idiot. Her quote was "But we have to pass the [health care] bill so that you can find out what’s in it....” meaning she is forcing it through onto the people. Do not twist her words attempting to blame republicans. Instead, why don't you blame Bush. You are a terrible propagandist.

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

    Janelle, conservatives think that cutting taxes will result in higher revenue. If you think that is true, ask your boss for a pay cut and see if you will get more money. Yes, I know, conservatives claim that people will take their tax cuts and re-invest, creating new jobs and taxpayers. After you get your pay cut, the job creators will create another job or two for you, so you will get more money overall from your two (or more) jobs. This will work if the job creators do not simply put the tax cuts in their bank accounts and refuse to release their tax returns when they run for president, like Mitt Romney.

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

    "... 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"

    Nope. We had the Bush tax rates for 10 YEARS, not 4, and prior to Obama and the Democrats adding $1.4 trillion in spending from 2007 to 2010, we had enough revenues for what we spent – in FY 2007, the deficit was $250b.

    Obama and the Democrats increased spending by $1.3 trillion, and the deficit increased by about the same amount from 2007 to 2010. WE CONTINUE TO SPEND $3.8 trillion PER YEAR, MASSIVE SPENDING IS CAUSE OF THE LARGE DEFICIT. It's the spending. Obama's massive spending is the cause of him adding $6 trillion to our debt in just 4 years. Massive spending in the future is what Obama plans and it means more deficits and more economic misery.

    Spending is too high and its piling up the debt fast. We spend $3.8 trillion and take in $2.5 trillion. If all we did was roll back spending to 2007 levels the deficit would disappear.

    Cut the spending is the only solution to our fiscal woes.

    December 27, 2012 03:24 pm at 3:24 pm |
  5. plain&simple

    The loud and frantic complaining you read on this page are from the people who don't know how to govern. They are going the way of dinosaurs and are desperate to gain followers ....misery loves company!!!!

    December 27, 2012 03:27 pm at 3:27 pm |
  6. Name lynn

    look people obama is saying we all paying higher taxes its that boehner man dont want the rich people higher taxes this is what all this mess coming from obama is saying the rich will be paying more higher taxes than the middle class an the poor people and its going to happen with or without boehner republicans and democrates

    December 27, 2012 03:30 pm at 3:30 pm |
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