US Fiscal Cliff-
http://www.nytimes.com/2012/11/15/us/politics/obama-holds-first-news-conference-since-june.html?hp
The president used his first official news conference since June to urge haste in budget negotiations meant to avert abrupt shifts in taxes and spending at the end of the year, and he called on Congress to extend middle-class tax cuts immediately, before lawmakers begin working on a complete deficit agreement.
He insisted that he would not agree to a similar extension of Bush-era tax rates on the highest levels of income.
“We should not hold the middle class hostage while we debate tax cuts on the wealthy,” the president declared in an opening statement. Appearing before reporters in the East Room of the White House, he said that “right now, our economy is still recovering from a very deep and damaging crisis, so our top priority has to be jobs and job creation.”
Speaker Boehner says Republicans want to avoid January tax increases without boosting rates - The Washington Post
WASHINGTON — House Speaker John Boehner says Republicans want to cooperate with President Barack Obama on reducing federal deficits, but not by raising income tax rates.
Boehner spoke soon after Obama told reporters the GOP-run House should let taxes rise on the richest Americans. Boehner, an Ohio Republican, said that would hurt job creation.
The speaker said there has been a spirit of cooperation between congressional Republicans and the White House. He said he is optimistic about talks beginning Friday between the White House and congressional leaders about averting the fiscal cliff — tax increases and spending cuts occurring automatically in January unless lawmakers reach a compromise to avert them.
Obama presses GOP on fiscal cliff: Rich must pay more taxes | Economy | News | Financial Post
WASHINGTON — President Barack Obama said Wednesday he was not going to “slam the door” in the face of Republican ideas for avoiding the so-called fiscal cliff, but he insisted the wealthy must pay more and that he was determined to keep taxes from rising on the middle class in the face of a year-end deadline to avoid big tax increases for all Americans and deep cuts in government spending.
“We could go back into recession. It would be a bad thing,” Obama said, describing a scenario where lawmakers fail to agree on the tax and spending issues associated with the “fiscal cliff” by year-end deadlines.
The president, newly elected to a second four-year term, campaigned on raising the tax rate for U.S. households making more than US$250,000 a year, citing the robust economic growth that accompanied higher rates for upper-income Americans during Bill Clinton’s presidency in the 1990s. Congressional Republicans have hinted at a willingness to allow taxes to rise but insist, in line with party ideology, that rates cannot increase. They envision higher tax revenue through changes to the tax codes.
http://www.nytimes.com/2012/11/15/us/politics/obama-holds-first-news-conference-since-june.html?hp
The president used his first official news conference since June to urge haste in budget negotiations meant to avert abrupt shifts in taxes and spending at the end of the year, and he called on Congress to extend middle-class tax cuts immediately, before lawmakers begin working on a complete deficit agreement.
He insisted that he would not agree to a similar extension of Bush-era tax rates on the highest levels of income.
“We should not hold the middle class hostage while we debate tax cuts on the wealthy,” the president declared in an opening statement. Appearing before reporters in the East Room of the White House, he said that “right now, our economy is still recovering from a very deep and damaging crisis, so our top priority has to be jobs and job creation.”
Speaker Boehner says Republicans want to avoid January tax increases without boosting rates - The Washington Post
WASHINGTON — House Speaker John Boehner says Republicans want to cooperate with President Barack Obama on reducing federal deficits, but not by raising income tax rates.
Boehner spoke soon after Obama told reporters the GOP-run House should let taxes rise on the richest Americans. Boehner, an Ohio Republican, said that would hurt job creation.
The speaker said there has been a spirit of cooperation between congressional Republicans and the White House. He said he is optimistic about talks beginning Friday between the White House and congressional leaders about averting the fiscal cliff — tax increases and spending cuts occurring automatically in January unless lawmakers reach a compromise to avert them.
Obama presses GOP on fiscal cliff: Rich must pay more taxes | Economy | News | Financial Post
WASHINGTON — President Barack Obama said Wednesday he was not going to “slam the door” in the face of Republican ideas for avoiding the so-called fiscal cliff, but he insisted the wealthy must pay more and that he was determined to keep taxes from rising on the middle class in the face of a year-end deadline to avoid big tax increases for all Americans and deep cuts in government spending.
“We could go back into recession. It would be a bad thing,” Obama said, describing a scenario where lawmakers fail to agree on the tax and spending issues associated with the “fiscal cliff” by year-end deadlines.
The president, newly elected to a second four-year term, campaigned on raising the tax rate for U.S. households making more than US$250,000 a year, citing the robust economic growth that accompanied higher rates for upper-income Americans during Bill Clinton’s presidency in the 1990s. Congressional Republicans have hinted at a willingness to allow taxes to rise but insist, in line with party ideology, that rates cannot increase. They envision higher tax revenue through changes to the tax codes.
