Boehner Remains Hopeful On Fiscal Cliff Compromise - 47 ABC - Delmarva's Choice

Boehner Remains Hopeful On Fiscal Cliff Compromise

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WASHINGTON (AP) - House Speaker John Boehner says he remains hopeful that a fiscal cliff compromise can be reached but says President Barack Obama has yet to offer a balanced deficit-cutting plan.
    
Boehner told reporters Tuesday that Obama's latest offer is for $1.3 trillion in tax increases over the next decade but just $850 billion in spending cuts. Boehner said that is not balanced enough.
    
As a result, Boehner says he is readying an alternative bill that would keep taxes from increasing on everyone earning $1 million or less.
    
Without an agreement, taxes will increase on virtually every American taxpayer on Jan. 1, and wide-ranging spending cuts will also begin.

 

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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