WTVY  | National  | News, Weather, Sports

Fiscal Cliff Update: Some Give on Tax Increases

By: AP
By: AP

WASHINGTON (AP) -- House Speaker John Boehner has proposed raising top rates for earners making more than $1 million, a person familiar with the negotiations says. President Barack Obama, who wants higher top rates for households earning more than $250,000, has not accepted the offer, this person says.
The proposal, however, indicates new progress in talks that had appeared stalled. The person would only discuss the plan on the condition of anonymity because of the sensitivity of the negotiations.
Boehner is still seeking more spending cuts than Obama has proposed, particularly in mandatory health care spending. Boehner has asked for a long-term increase in eligibility age for Medicare and for lower costs-of-living adjustments for Medicare.
Boehner's tax proposal was first reported by Politico.
A Boehner aide would not comment on the report.


WTVY-TV 285 N Foster Street Dothan, AL 36303 334-792-3195
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 183678861