News

Index

WASHINGTON – The White House and congressional Republicans are a long way from agreeing on a plan to deal with the “fiscal cliff.” But it seems like some progress is being made.

House Speaker John Boehner is offering $1 trillion in higher tax revenue over 10 years and an increase in the top tax rate on people making more than $1 million a year. He’s also offering a large enough extension in the government’s borrowing cap to fund the government for one year before the issue must be revisited — conditioned on President Barack Obama agreeing to the $1 trillion in cuts.