Boehner Makes Off to Raise Rates
By: Big 2 News Staff
Updated: December 17, 2012
House Speaker John Boehner has offered to raise income tax rates for Americans
earning more than one million dollars a year.
The move is a concession in negotiations with President Barack Obama to avoid the "fiscal cliff", the fast-approaching end of temporary tax cuts.
But the offer falls short of the President's demands for a rates increase on households earning more than $250 thousand.
While the news suggests a possible breakthrough in the standoff to reduce the nation's huge debt problem, a spokesman for Boehner says a deal is not imminent.
The move is a concession in negotiations with President Barack Obama to avoid the "fiscal cliff", the fast-approaching end of temporary tax cuts.
But the offer falls short of the President's demands for a rates increase on households earning more than $250 thousand.
While the news suggests a possible breakthrough in the standoff to reduce the nation's huge debt problem, a spokesman for Boehner says a deal is not imminent.
