Baton Rouge, Louisiana
7 Day Forecast

Latest Weather Blog

Follow our weather team on social media

House GOP press Obama for balanced fiscal deal

2 years ago December 12, 2012 Dec 12, 2012 Wednesday, December 12 2012 Wednesday, December 12, 2012 8:54:55 AM CST in News
Source: Associated Press

WASHINGTON - House Republican leaders are pressing President Barack Obama to come up with plan they can accept for spending cuts and tax revenue to avoid the so-called "fiscal cliff" of automatic tax hikes and budget reductions.

Speaker John Boehner tells reporters at a Capitol Hill news conference that he and the White House have some "serious differences." He says the GOP proposal is a balanced approach.

House Majority Leader Eric Cantor urged the president Wednesday to produce more specifics. He raised the possibility of Congress being in session through the Christmas holiday.

The combination of automatic tax increases and spending cuts would go into effect after the first of the year. Economists have warned it could plunge the nation into a recession.

Boehner and Obama spoke by phone on Tuesday.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
7 Days