76°
Baton Rouge, Louisiana
3 Day Outlook
Tue
85°
72°
80%
Wed
86°
71°
80%
Thu
86°
71°
60%
Follow our weather team on social media

White House rejects GOP fiscal cliff counteroffer

2 years ago December 03, 2012 Dec 3, 2012 Monday, December 03 2012 Monday, December 03, 2012 3:47:43 PM EST in News
Source: Associated Press

WASHINGTON - The White House is rejecting a Republican counteroffer aimed at averting the "fiscal cliff," saying it does not meet what the White House calls "the test of balance."

White House communications director Dan Pfeiffer says the GOP proposal would lower tax rates for the wealthy and stick the middle class with the bill. He says the plan includes nothing new and provides no details on how it would achieve higher revenues.

The House Republican plan calls for $800 billion in higher tax revenue over 10 years. But it would keep the Bush-era tax cuts in place for all income earners.

Obama has insisted there can be no deal unless Republicans agree to end the tax cuts for families making more than $250,000 a year when they expire in January.

More News

comments powered by Disqus

Desktop News

Click to open Continuous News in a sidebar that updates in real-time.
5 Days
Radar
Today
76°
74°
Tue
Heavy T-Storms
85°
72°
Wed
T-Storms
86°
71°
Thu
Scattered T-Storms
86°
71°
Fri
PM T-Storms
86°
71°