Arab Today, arab today us republicans make \fiscal cliff\ counteroffer
Last Updated : GMT 01:33:48
Arab Today, arab today
Arab Today, arab today

US Republicans make \'fiscal cliff\' counter-offer

Arab Today, arab today

Arab Today, arab today US Republicans make \'fiscal cliff\' counter-offer

Washington - AFP

Republicans on Monday laid out a proposal for closing the huge US deficit that raises half the income proposed by President Barack Obama and opposes a higher tax rate increase for the rich. Their $2.2 trillion deficit reduction proposal agreed to the permanent extension of tax cuts, a move that would mitigate much of the impact of the looming fiscal cliff. But they did not immediately address Obama\'s call to modify or delay the drastic \"sequester\" spending cuts slated to begin on January 1 that could sharply slow growth. Instead they proposed slashing $1.2 trillion from federal spending over 10 years, including $600 billion from Medicare, which covers health insurance for the elderly. In a letter to Obama, top Republicans assailed his focus on raising government income by $1.6 trillion rather than spending cuts to right the deficit as \"neither balanced nor realistic.\" And they rejected Obama\'s insistence on extending the tax cuts only for middle class households, while raising rates for the wealthy. \"The proposal also includes four times as much tax revenue as spending cuts, in stark contrast to the \'balanced approach\' on which you campaigned,\" they said. The Republicans countered with $800 billion in tax increases through \"pro-growth tax reform\" that lowers tax rates but boosts income by closing loopholes and special deductions for companies and households. And against Obama\'s $600 billion in spending cuts, the Republicans proposed a $1.2 trillion package based on a plan first introduced a year ago that was rejected in Congress. \"This is by no means an adequate long-term solution, as resolving our long-term fiscal crisis will require fundamental entitlement reform,\" the letter said. But it called the Republican proposal \"fair middle ground that allows us to avert the fiscal cliff without hurting our economy and destroying jobs.\"

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 us republicans make \fiscal cliff\ counteroffer Arab Today, arab today us republicans make \fiscal cliff\ counteroffer

 



Arab Today, arab today
Arab Today, arab today Fadi Kataya explains secrets of  Nancy Ajram's newlook
Arab Today, arab today Messi visit will contribute in tourism

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism
Arab Today, arab today Expresses Algerian history by woody figures

GMT 13:26 2017 Friday ,24 February

Expresses Algerian history by woody figures
Arab Today, arab today Mental conflict endures

GMT 07:36 2017 Friday ,24 February

Mental conflict endures

GMT 21:36 2017 Wednesday ,22 February

Opec needs to prolong cuts to eliminate surplus

GMT 16:32 2017 Wednesday ,22 February

US Treasury chief tells IMF to monitor currencies

GMT 16:08 2017 Wednesday ,22 February

Qatari banks merger to rebalance financial sector

GMT 05:57 2017 Wednesday ,22 February

Britain risks clash with EU over RBS bailout

GMT 05:26 2017 Wednesday ,22 February

Singapore carbon tax would hit refiners, help renewables

GMT 05:18 2017 Wednesday ,22 February

Chinese PM: US should avoid ‘trade war,’

GMT 20:59 2017 Tuesday ,21 February

Economy good, but homes in German cities overpriced
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Reading therapy relieves mental disorders

GMT 15:39 2017 Friday ,24 February

Reading therapy relieves mental disorders
Arab Today, arab today UK appoints 1st Scotland Yard chief in 188 years

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
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 Wafaa Amer is happy for Sherihan’s return

GMT 07:36 2017 Wednesday ,22 February

Wafaa Amer is happy for Sherihan’s return
Arab Today, arab today Milan laughs while Rome cries

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 05:19 2017 Tuesday ,21 February

Salma Rashid happy for 'A Whisper of Love'

GMT 12:35 2017 Tuesday ,21 February

63-Year-Old Woman Delivers Baby

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries

GMT 15:53 2017 Tuesday ,21 February

Small ponds have outsized impact

GMT 20:33 2017 Friday ,17 February

To release new antiques collection

GMT 07:51 2017 Wednesday ,22 February

Mom's immune system accepts babies

GMT 09:59 2017 Monday ,20 February

Tourism shows signs of recovery

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 20:02 2017 Tuesday ,21 February

Nohan Seyam designs beautiful accessories
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