Arab Today, arab today obama top republican discuss fiscal cliff deal
Last Updated : GMT 02:47:12
Arab Today, arab today
Arab Today, arab today

Obama, top Republican discuss fiscal cliff deal

Arab Today, arab today

Arab Today, arab today Obama, top Republican discuss fiscal cliff deal

Washington - AFP

US President Barack Obama held fresh talks with top Republican lawmaker John Boehner at the White House, in their latest effort to reach a deal to avoid the so-called fiscal cliff. Obama and Boehner, the speaker of the House, met for about 45 minutes -- the latest in a series of meetings between the two protagonists in the negotiations as they seek to forge a compromise aimed at preventing tax hikes and federal spending cuts from kicking in beginning January 1. Treasury Secretary Timothy Geithner also joined the talks. \"The president believes that the parameters of a potential agreement are clear,\" White House spokesman Jay Carney told reporters. That hardly ensures a deal, but The Washington Post reported Monday that signs have emerged that the two sides had narrowed their differences and could be close to shaking hands on an agreement which would see $1 trillion in new tax revenues and $1 trillion in spending cuts over the next decade. Carney would not characterize the discussions other to describe them as \"frank and direct and deliberate,\" but he also said Obama had essentially rejected the latest offer by Boehner. \"We have not seen a proposal besides the president\'s that achieves the balance that the president insists be part of a deal, because we can\'t have a situation where deficit reduction is borne unduly or primarily by the middle class or by seniors,\" Carney said. Several phone calls and three face-to-face Obama-Boehner meetings in the past eight days have raised hopes, however, that a deal is possible by the end of the year. \"It\'s fair to say that we have continued to engage in communications with the speaker\'s office and his staff and with other leaders and their staffs,\" Carney said. And with Friday\'s horrific shooting at an elementary school in Connecticut diverting lawmakers\' attention and muting the rhetoric on the deficit battle, negotiations were left to proceed Monday largely out of the media glare. Republicans at least publicly have refused to go along with Obama\'s call to raise taxes on all US households earning more than $250,000 per year as part of his plan to raise $1.6 trillion in new tax revenues over the next decade. Boehner has offered $800 billion in new revenue through the closing of loopholes and the elimination of tax deductions, but not by raising tax rates on the rich. Obama has dropped his revenues request to $1.4 trillion. In a concession Friday, Boehner sweetened his offer, reportedly agreeing to back tax hikes on those making more than $1 million per year provided spending cuts to entitlement programs like Medicare are part of the deal. The Post reported on its website that the outlines of an agreement were emerging, with a compromise on tax hikes likely settling on people making more than $500,000 or $750,000 per year, with additional revenue raised by limiting certain tax deductions. The total revenue raised would be a bit more than $1 trillion, while spending cuts also would raise another $1 trillion, the Post reported, without offering specifics. It also said any final plan would likely include fresh stimulus spending that Obama has pushed for, including an extension of unemployment insurance and some infrastructure spending, and a lifting of the US debt ceiling for another year. If a deal emerges in the coming days -- and manages to pass both chambers of Congress -- it would go a long way toward removing a massive cloud of uncertainty over the US and global economies. But Boehner would still need to sell the ingredients to Republicans, many of whom oppose any new tax hikes. While the two sides forge ahead, Senate Majority Leader Harry Reid, a Democrat, warned fellow senators to prepare for an abbreviated Christmas holiday. \"It appears that we\'re going to be coming back on the day after Christmas to complete work on the fiscal cliff,\" Reid said. Republican House Majority Leader Eric Cantor said as much last week. If no agreement is reached by year\'s end, taxes rise on all Americans on January 1, followed by some $110 billion in spending cuts in 2013, split evenly between military and civilian programs. Congressional economists say tumbling over the fiscal cliff could send the US economy back into recession.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today obama top republican discuss fiscal cliff deal Arab Today, arab today obama top republican discuss fiscal cliff deal

 



Arab Today, arab today
Arab Today, arab today Prepares to present her new collection

GMT 14:29 2017 Monday ,20 February

Prepares to present her new collection
Arab Today, arab today Tourism shows signs of recovery

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery
Arab Today, arab today Sarah Belamesh designs antiques of "ceramic"

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"
Arab Today, arab today Optimism on the front line

GMT 07:24 2017 Monday ,20 February

Optimism on the front line
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 09:38 2017 Monday ,20 February

Japan returns to trade deficit in January

GMT 07:16 2017 Monday ,20 February

Global arms trade highest since Cold War

GMT 06:10 2017 Monday ,20 February

Tourism shows signs of recovery in Egypt

GMT 05:45 2017 Monday ,20 February

Brexit U-turn ruled out by many in EU

GMT 16:23 2017 Sunday ,19 February

Global energy news

GMT 16:05 2017 Sunday ,19 February

Trudeau calls for wider social benefit from economy
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Nissan enhances sales in most markets

GMT 14:08 2017 Monday ,20 February

Nissan enhances sales in most markets
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Egypt to hold first session of Arab film festival

GMT 21:11 2017 Saturday ,18 February

Egypt to hold first session of Arab film festival
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 23:29 2017 Thursday ,16 February

Home built on sand castles-style costs $8m

GMT 21:49 2017 Thursday ,16 February

Scientists develop new therapy

GMT 19:16 2017 Friday ,17 February

Aziz House ready to host the tourists

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 12:39 2017 Monday ,20 February

newest smartphone another winner for Huawei

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday