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Subscribe to RSSAfter a weekend that generated skepticism about a possible deal to avert the 'fiscal cliff,' House Republicans presented a plan that includes $800 billion in new taxes, which is half of what the White House asked for. NBC's Chuck Todd reports.
Updated 4:50 p.m. ET -- Republicans offered up their own proposal to avert the impending “fiscal cliff” on Monday amid Democratic demands that the GOP match the Obama administration’s plan with one of their own.
In a letter to President Barack Obama, House Republican leaders outlined the contours of a deal they said would achieve a net savings of $2.2 trillion. The plan, which is based on fiscal commission Democratic co-chairman Erskine Bowles’s proposal to the super committee, would achieve these savings through revenue from tax reforms, health savings and discretionary spending cuts.
Recommended: Income tax rates just one piece of Obama proposal
"Going over the cliff will hurt our economy and hurt job creation in our country. It’s one of the reasons the day after the election I offered a concession to try and speed this process up. Unfortunately, the White House responded with their ‘La-La-Land’ offer that couldn't pass the House or Senate and was basically the president’s budget from last February," House Speaker John Boehner told reporters on Capitol Hill at a briefing detailing the plan.
Alex Wong / Getty Images
Speaker John Boehner speaks during a news conference, Nov. 30, 2012, on Capitol Hill.
"We could have responded in kind, but we decided not to do that. What we’re putting forth is a credible plan that deserves serious consideration by the White House and I would hope that they would respond in a timely and responsible way," the Ohio Republican added.
Dan Pfeiffer, the White House communications director, said the plan "does not meet the test of balance."
"Their plan includes nothing new and provides no details on which deductions they would eliminate, which loopholes they will close or which Medicare savings they would achieve," he said. "While the president is willing to compromise to get a significant, balanced deal and believes that compromise is readily available to Congress, he is not willing to compromise on the principles of fairness and balance that include asking the wealthiest to pay higher rates ... Until the Republicans in Congress are willing to get serious about asking the wealthiest to pay slightly higher tax rates, we won't be able to achieve a significant, balanced approach to reduce our deficit our nation needs."
The counter-offer coincides with Democratic demands that Republicans produce their own proposal to match the deal offered last week by the administration. That plan, presented to Republicans by Treasury Secretary Tim Geithner, called for $1.6 trillion in new revenues, savings from entitlement programs and new spending on unemployment insurance and investment projects. GOP leaders rejected the plan out-of-hand.
Still, the GOP proposal on Monday appears to move no further toward compromise on Obama’s central demand that tax rates be allowed to increase on the wealthiest Americans. While Republicans have agreed in principle that richer Americans can shoulder a greater share of the tax burden, they insist this must be achieved through ending loopholes and deductions, rather than raising rates.
The Republican plan, which is also backed by Senate Minority Leader Mitch McConnell, R-Ky., achieves its $2.2 trillion in several steps.
rep. Sander Levin, D-Mich., talks about the key points in President Barack Obama's fiscal cliff negotiation that are making Republicans wary.
As Republicans put it, they would raise $800 billion in new revenue through tax reform, $600 billion in health savings, $200 billion from changes to the Consumer Price Index, $300 billion in discretionary spending cuts, and another $300 billion in savings in mandatory spending. Many of the health savings track closely with the changes to Medicare first proposed in Wisconsin Rep. Paul Ryan’s budgets.
Republicans say the plan, using the Obama administration’s math, would achieve $4.6 trillion in savings.
It’s unclear, though, whether the Republican plan would move toward ending the stalemate around the fiscal cliff negotiations, with less than a month remaining until the automatic tax hikes and spending cuts are scheduled to snap into place on Jan. 1.
Senate Majority Leader Harry Reid, D-Nev., pummeled his GOP colleagues earlier Monday afternoon, arguing that their failure to produce a counter-offer would only exacerbate the situation.
The new GOP plan reflects the posturing that has come to characterize these negotiations, separated just a month from an election which awarded Obama a second term and which kept Republicans in control of the House and Democrats in control of the Senate.
Also on Monday, the president continued his messaging offensive on Monday with a glossy campaign-style video highlighting the cost to families if the 2001 Bush-era tax cuts were allowed to expire at the end of this month. (Obama has argued they should be extended for all but the wealthiest 2 percent of U.S. households.)
Benjamin Myers / Reuters
Treasury Secretary Timothy Geithner arrives at Capitol Building before a meeting with House Minority Leader Nancy Pelosi in Washington, D.C., Nov. 29, 2012.
The president also took to Twitter to make the case for his own plan, answering questioners who used the informal 140-character medium to ask about the fiscal cliff negotiations.
Asked by one participant why he insists on increasing rates on the top 2 percent of earners rather than limiting deductions in order to raise revenues, the president replied that capping deductions alone would not raise adequate revenue.
"Not enough revenue, unless you end charitable deductions, etc. [L]ess revenue=more cuts in education," he wrote.
The president also dismissed the GOP notion that lower taxes for the very wealthy have a trickle-down effect in terms of new hires and a larger tax pool. "High end tax cuts do least for economic growth & cost almost $1T," he wrote. "Extending middle class cuts boosts consumer demand & growth"
Obama also argued that his administration cut spending by $1 trillion last year and that he is open to further "smart cuts" as long as they don't affect education or job growth.
NBC's Frank Thorp contributed to this report.
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Isn't it funny? I started working in the Summer of 1969. I was 14 years of age and had a Summer Youth Corp job picking up trash in the park. And at the tender age of 14 I was paying taxes. And at the age of 57 I am still paying taxes and have been gainfully employed since the Summer of 1973 when I finished H.S. And on every paycheck I ever got there was a stub attached that told me how much I made and how much the government got. I never complained I always considered that to be the cost of living safely in a country with hospitals, roads, bridges, armed services, safe medicines etc.
Ever since President Obama has been on the scene, even before he was elected to his first term in 2008. Hateful Bigoted Individuals seem to think they can change the definition of paying taxes to "Redistribution of Wealth". Never once heard taxes called that from Kennedy to Bush II.
You people really ought to quit it. Because you are pathetically SICK!!!
Michael; The "Mutual Admiration Society" called Washington DC are the one using "redistribution" of weath as a moniker. We in our 50's just call it getting raped!
Lets look at your arguement; "the cost of living safely in a country with hospitals, roads, bridges, armed services, safe medicines etc." No one disagrees!
The problem we've had is that the current version of the "Mutual Admiration Society" has spent much more on these (and other things) then every other president since 1969 - "COMBINED!" None of us have an issue paying taxes for your very own reasons.
But when a president fights for a stimulus that was geard to "creating jobs" especially "shovel ready jobs" (that weren't so shovel ready; and our "Summer of Recovery" didn't reduce the unemployment rate to 5.8% as promised;,,,,AND, those "Jobs that were to be created" turned out to be "Jobs SAVED or created" right after the stimulus was passed (just a minor, post-law-passing reinterpretation of the original intent),,,,,,and we're still at 8% unemployment!
That those now,,,"jobs saved" are primilarly teacher jobs that Obama used your money to buy votes; and that those wonderful GM jobs "saved" are proving to be a really bad investment, because GM's sales are by-in-large "fleet sales" to the federal government & car rental companies! They're not doing so well in the morketplace otherwise! We are in all intent in purpose, "eating our young!"
I don't theink we're as pathetically sick as you say; rather, we're sick of our government lying to us, and NOT doing what they said they were going to do with OUR money, that should have you so incensed!
Furthermore, buy enacting the dream act to allow citizenship to a segment of the population by executive fiat, bypassing congress' right to be involved in this very important process, it allowed this fraud of a president to steal the election, and be able to do this for another 4 years!!
RU happy now??
Planeguy, no I hear people on the street calling it "redist. of wealth".
And as far as the stimulus goes, from time to time I like to listen to redneck radio so I can listen to the hateful bigots sell their souls to lucifer. There were people calling in from civil service type jobs laughing about how when their agency got some stimulus money they wasted it and divided it amongst the employees. They of course were being cheered on by Shamity, Blechh or Limpballs ....... whoever I was listening to. I supposed they called themselves doing their part to make President Obama a one-term President.
PSYCHE!!!! Didn't work did it?
So that is probably 35 to 40 percent of the problem with them stimulus. But even with the treasonous obstruction by the GOP President Obama got quite a bit done. Enough that he won enough electoral votes that everyone one on the GOP side said if Romney got he would have a mandate.
So in answer to your question - HELL YES!!!!!!!!!!!!!
FOUR MORE YEARS!! FOUR MORE YEARS!! FOUR MORE YEARS!! BABY FOUR MORE YEARS!!!!!!!!!!!!!!
Huh. Imagine that.
" ... was basically the president’s budget from last February," House Speaker John Boehner told reporters ... "
OOPS! So ......
According to the most powerful Republican in the country, the President of The United States of America HAS proposed a budget. In fact it was proposed in FEBRUARY of this year?
WHAT?
So from February until now the Right has been lying about there not being one. WOW! Imagine that. How does it feel to be called a liar by the leader of your own party? Oh that's right. You are the party of Family Values. And lying IS a Family Value.
LOL. Just another reason it sucks to be you.
Imagine that. In spite of all the public claims by the Right. In spite of all the public moral outrage by the Right. The President, in spite of all the public pronouncements by the people on the Right on this website. HAS in fact proposed a budget. In February.
Huh. Imagine that.
So Ladies and Gentlemen ( and I use those terms very loosely ) of the Right, what NEW lie are you going to come up with to demonize the scary black man in the White House?
Oh and ignorance is no excuse.
And one last thing.
In spite of what the people on the Right think. In spite of the fact the President HAS proposed a budget. It's still NOT his job to propose one. Read the Constitution. His job is still only to sign the budget. Or to veto it. Nothing more.
97-0 vote for BO budget. lol
Obama only wants to raise the debt ceiling and borrow more. His budget did not even carry 1 democrat in the Senate - because it does not address the deficit and debt. He needs to suck it up and get real. we can not continue to spend 1 trillion over our Tax revenue every year.
NO to raising the debt ceiling.
Constitutionally no it is not his job, but the Budget and Accounting Act, make's it his job to submit one every year.
Lame Duck President. Get use to it.
Translation, you clowns took an ass whipping 3 weeks ago. Booo Hooooo
You can't have your way Ozzie. Don't that make your liberal eyes cry!! Obama has to deal with the house. It sounds cool President Obama is a Lame Duck President. Gridlock is awesome.
Sc**w the whole damn bunch. Let it go over the "fiscal cliff". A good depression would bring the country out of fantasy land of x boxes and game boys. A flat 15% income tax from corporate to bottom wage earners, without loop holes or deductions would bring more money to treasury than all the games politicians are playing. The problem is Tax Accountants and Tax Lawyers would squeal like stuck hogs and Obama wants to be the supreme dictator...go over the cliff and let him have it. Watch the economy go along with all the mortgages and maxed out credit cards. Watch "investors" jump from high rise offices. Watch 535 shiny bottom legislators get on the same program as the constituency. Politicians are just that, politicians with only their own self interest at heart. Obama is not a leader, he is a coward hiding behind excuses and finger pointing. Banks should go bankrupt...so should auto industry. $30,000 for a four banger car? Ridiculous. Drill like a SOB, farm like farmers do, manufacture like industries are supposed to do and for cryin' out loud, keep Twinkies going! Hand them out in soup lines.
Pat on the back........nice job!!
Let's go over and expire all the damn tax cuts and then do more after that with entitlement reforms and end the me, me, me crap I see from everybody these past 10 years.
Neither side of the fence gives a crap about the middle class people working their guts loose trying to keep up. Instead they continue to encourage through their policies allowing the rich to cheat lie and steal and squeeze the middle class until they die at an earlier age without their social security benefits. How much more theft can the American people stand?
Between the press framing cliff the catchword for the new fear campaign and all the bs from Washington it just goes to show how easily people fall for the crap while their personal freedoms retirements and savings are stolen. Why wallstreet is still producing worthless papers as commodities and taking the hard earned money of Americans investment portfolios and selling this garbage. Disgusting
The deductions and loopholes obviously will affect the middle class the most. The only real deduction is home mortgage interest. That will barely touch (if at all) the wealthy.
And since when did the (falsely claimed as) "entitlements" like social security and medicare contribute to the deficit? Those are both well in the black from trust fund collections - only reason they look sad is because they've been raided to pay for the shrub's wars.
What the repubs would really like is to have Democrats pay taxes while they don't. Obama and his crew have seen this movement, and are positioning themselves to head off these criminals again.
It appears that the GOP Plan has it's roots in the Simpson Bowles plan, probably the only bipartisan initiative Obama ever undertook. However, it was also one of the first plans he flat out rejected. I think this puts the Democratic Leadership into the position to explain why they are going to reject it. It ought to be good. I think we now see that the American people who blindly voted for Obama really are of a low intellect, unable to understand that you have to pay for the dope before you can smoke it.
Obama should have went with Bolwes Simpson the first time. Never understood why he rejected it the first time.
Down with boehner and mitch mcconnell
They operate on their priciples instead of working for the american people. Why doesn't anyone see this. They need to have a boot shoved up there a$$ and told you "Work for the people" knock it off with your dam principles. "Do something" GOP is just Useless, this just pisses me off.
We voted for obama and what he is trying to do. Why isn't someone slapping boehner and mcconnell upside the head and tell them they lost and stop trying the same old crap from the last four years. Get with the program or leave
You certainly make a good case for post full term abortion, you really need to pull your pants back on and go back upstairs where the refrigerator is located
You know, the American Public did not make this problem, our Congress made, along with Mr. GWB, now they want everything on the table, give up some of your Retirement buddies, you expect us the public to cover your snafu, Lets also put your wages on the line, about about reduction in your pay checks, for not doing the job you were voted into do. In 2008 your as Congress and GWB, took our Returement funds and now you want to keep yours. guss you want to protect yours. Put all your finds on the line as well as your Insurance that no one in America can afford.
"Unfortunately, the White House responded with their ‘La-La-Land’ offer..."
Just the sort of class(lessness) we've come to expect from Mr. Boehner, while he continues to try to foist off the same sort of nonsolutions to our economic woes that were repudiated by the voters in their overwhelming rejection of Citizen Romney and his youthful ward, Paul Ryan.
Proof positive that Doubleplusgood Duckspeaker Boehner is fit to be the voice of The Gang That Couldn't
ShootThink Straight.Maybe if you hadn't been into your Mama's pain killers you would have noticed that the election was anything but a mandate for Obama. Essentially nothing changed. Further the non solutions you are choking on came from a bipartisan task force in 2009, sanctioned by Obie himself - You really are a frog turd aren't you?
that's funny...isn't this the type of rhetoric that Obamie and Biden structured the re-election campaign on? it's funny when Obamie makes big bird jokes and Romnesia references; but when a House GOP speaker does, he is just being a pompus ass??
Liberals - can't live with, can only dream to live without em' :)
Lilmoriv
1. Electoral College Results, 2012: President Obama: 332; Citizen Romney: 206.
More than half again as many votes in the E.C. as Citizen Romney. Looks mandate-like from here, even though I never claimed a mandate.
2. "The (Republican) plan, which is based on fiscal commission Democratic co-chairman Erskine Bowles’s proposal..."
Note the words "based on," not "all-encompassing."
Perhaps a community college in your area offers a course in remedial reading and mathematics. Or at least an entry level course in logic.
RICKSPRINGFIELDBABY
So you think the same level of rhetoric used during a political campaign, where both sides and their surrogates are decidedly less than "cordial," should extend to that employed by public servants in the discharge of their duties?
No thanks. I for one am more than happy to have the campaign sideshow over.
Gcooper - electoral votes are winner take all - El dumbolito. Perhaps you can enroll yourself in a good tax payer supported drug rehab program.
Lilmoriv
Have a care with your language, madam or sir, lest you draw a rebuke from RICKSPRINGFIELDBABY.
My language is not directed at an aspiring political candidate - it is aimed at a sniveling piece of crap.
Well I thought I wanted to leave a comment but from all the bullying going on here I don't think any thing I would like to say would be taken seriously or given a fair shake here. But I will say this, to me one side presents itself as running scared, very scared for some reason. Just look at the verbal attacks being made. They do not give any hope for any kind of recovery through their words. The other side presents itself as timid having lost a vision which help build this country. And we wonder where our children learn to be abusive and bullies. I have not heard or seen any thing from the one side that communicates a caring concern for this country or the true Americans. Again from what I see and hear from the other side is a lack of vision. Attack me and my words and confirm what I have said. There is no black or white, there is no right or wrong. It all comes across as it has to be this way or no way. Point your fingers and continue to play the blame game. Who wins? Fan the flames of hatred. This country has lost its values, its foundation and is losing its vision that made it a great place for live and follow the American dream. Segregation, hatred, and fear are now the new standards. The truth is out there but a lot are being deceived and distracted from it. Lawlessness is arriving. Thank you.
liberals crack me up...always looking for reasons to spew hate...face it, raising taxes on the richest 2% will only equate to operate the federal gov't for 8 calendar days b/c of the way your Czar spends money...always looking to make republicans look bad...i'm a republican and how about this; reform entitlements like welfare, have drug testing for receipients b/c why should my tax dollars go to a substance abuser? Education reform, offer tax incentives and breaks to families whose children show the most improvement, this way, instead of pushing all the responsibility on the teacher, the parents and families may actually interact and start working with their children at home too...i'm not touching health reform b/c you bleeding heart liberals will go crazy...
Reading the comments it is obvious why Obama was relected. The majority of people in this country are not very good at math. If you increase the tax rate on the top 2% wage earners in this country it would be a drop in the bucket. It will not solve the deficit crisis nor product any jobs. Most of you have fallen into the class warefare issue. The only way out of this mess is to reform the tax codes and really cut spending. Blaming Bush will not improve your lot in life. Real action needs to be taken. Window dressing like raising the tax rate on the top 2% just doesn't get it done.
Jack,
Nobody has suggested that raising taxes on the top 2% would "get it done" alone. Raising taxes has to be a part of a serious deficit reduction plan, however. And I find it funny that Republicans will raise hell about PBS and other smaller government funded/run programs that cost the tax payers millions of dollars a year but when a proposal is brought forth that would raise revenues by billions of dollars it's a mere drop in the bucket.
Jack....the 2% was always just a way of Obama showing the "middle class" how he was looking out for them and getting even with the evil empire of business who took advantage of the poor midde class. Nothing but class warfare.
My husband lost his job in May 2012. Since then he has applied to hundreds upon hundreds of jobs. We were just informed that he will lose his umemployment benefits if Congress doesn't make a decision by the end of the month. Granted Florida unemployment benefits are only $275 per week but I DEPEND on that money to pay our bills along with my salary. Please congress get off your ass and pass a bill that will help thousands of unemployed people!!!!!!
The government creates this massive debt and then tells the American people to give government a blank check so it can fix things. As President Ronald Reagan said- "Government is not the solution to the problem government is the problem."
What about the money Reagan spent to finance the Taliban and to support his jobs program?
Ronald Regan is DEAD!
Same old tired and predictable talking points by the Dems and Liberals on this site: "The American people want this tax increase"....."We won the election"....."The GOP is the party of NO"......blah blah blah blah. Either Obama wants to compromise or he doesn't. I could care less. The American people will see the GOP has put revenue on the table AND is serious about spending cuts where as the Democrats want to keep kicking the debt can down the road. Hold your line GOP, we are behind you. We can write letters to congress just as well if not better than they can.
well said!!!!
Republicans just don't get it and Democrats, both parties are going to have to suck it up and realize that they aren't going to get everything they want. You have to cut spending and raise revenue. Also Bush Tax cuts for everyone should expire, that is the major reason we have a deficit, after 10 yr or so it finally caught up. I am middle class and yes it would suck but I am all in favor of letting the Bush Tax cuts expire. Also, for Republicans to say that increasing taxes would hurt job growth is plain FALSE!! Lowering Corp taxes doesn't create jobs, if it did then how come when the taxes were lowered under Bush and with the Bush Tax cuts we actually lost jobs and were sent overseas. Trickle down does not work either, never has never will... It's only a rich man's theory. Finally, look at the tax rates under Clinton, they were higher than they are today and we had job growth and a surplus, so you do the math! and yes we also had to watch spending. But two wars and then a new dept Homeland Security, Bush Tax Cuts that is where we started having our current problems. Congress seems to forget they work for the people, not the Corporations, but again POWER DOES CORRUPT.
instead of intelligent comments the liberals on this site whine about the repulican version.
why are liberals such whiners?
I don't give a damn whose plan it is. Do these ignorant putzes have to ensure that the American people know its a Republican or Democratic plan. Wake up. We do not give a s--t.
The whole idea, and you pencil-pushing wanna-bes always say this, is to 'work together'. When is that going to happen?
I think if these fools bring us to the cliff and push us over, then I would call upon all constituents in all states to begin the recall of their representatives to explain to us all why they should keep their jobs.
You libs ever think about having an adult conversation rather than banging your spoons, stomping your feet and calling names. 335,000 votes in 5 states isn't exactly a mandate, you might want to tone it down some, nearly 50 million people voted against your ideas and I bet most of them had their own transportation and voted on the actual day of the election
So now you're rationalizing the beating you took the other week, huh??? LOL
Yea.....we got totally creamed....51% to 49% of the popular vote and the GOp still controls the House. What on earth are we going to do??????
@truthh33 thats real funny ......lmao
Going over the cliff will increase taxes on everybody but most to the 1%. It automatically cuts the deficit. The majority voted for big government, the cliff will allow you to pay for it.
Where is the daily article about gays? I must have missed it.
OEL,
Miss gay bashing? Got your homophobic juices flowing?
Where is the daily article about gays? I must have missed it. You can still dream about it!!
he tries to dream about it but your mom keeps cuming up
Same old BS, different barrel!!!
Of course the GOP plan deserves consideration. 0bama won't give it any because he's an arrogant jerk with an over-inflated opinion of himself.
Remember kids, the 0bamacare layoffs have begun. You won't hear it on NBC but keep paying attention. Again, YOU VOTED FOR IT! Enjoy.
Yup...the only place to hear about it is Fox "news". Come get your slop kids...