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GOP makes new 'fiscal cliff' offer to Obama

John Boehner makes a new offer to President Obama in hopes of reaching a deal to resolve the impending fiscal cliff. NBC's Kristen Welker reports.

 

House Speaker John Boehner (R-OH) sent a new offer on Tuesday afternoon to President Barack Obama in hopes of reaching a deal to resolve the impending fiscal cliff.

Specific details are scarce, but the proposal apparently was made as a counter-offer to something the White House had proposed over the last few days. A GOP aide said the White House plan offered $1.4 trillion in new revenue, but the GOP still not moved from offering $800 billion in revenue.

Boehner spokesman Michael Steel told NBC News the following:

"We sent the White House a counter-offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs.  As the Speaker said today, we're still waiting for the White House to identify what spending cuts the president is willing to make as part of the "balanced approach" he promised the American people.  The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff."

Speaker of the House John Boehner provides an update on the fiscal cliff negotiations, placing pressure on the White House to reveal how they intend to compromise with House Republicans on spending cuts.

Since this is a new offer, it’s assumed to be different from the one put forward last week by the GOP that called for $800 billion dollars in new revenue through closing tax loopholes and deductions, along with an additional $600 billion in savings through cuts to entitlements.

A GOP aide opined to NBC News that the president must move more quickly on “the spending side” before any deal could hope to be accomplished. A major sticking point to date has involved how much ground Republicans would give on tax rates for the wealthy.