[QODLink]
Americas

Obama rejects GOP 'fiscal cliff' backup plan

White House says Republican John Boehner's "Plan B" proposal does not put enough tax burden on wealthiest Americans.
Last Modified: 18 Dec 2012 17:49

The White House has rejected House of Representatives Speaker John Boehner's "fiscal cliff" backup proposal, saying it fails to meet President Barack Obama's call for a balanced approach and does not put enough of a tax burden on the wealthiest Americans.

"He [Obama] is not willing to accept a deal that doesn't ask enough of the very wealthiest in taxes and instead shifts the
burden to the middle class and seniors," Jay Carney, White House spokesman, said in a statement on Tuesday.

"The president is hopeful that both sides can work out remaining differences and reach a solution so we don't miss the opportunity in front of us today."

The White House weighed in after an aide to Boehner, the top Republican in Congress, said the the speaker would begin work on "Plan B" legislation, which would simply extend lower tax rates for incomes below $1m a year, while negotiations proceed with the White House on a broader tax and spending deal.

Still, the Ohio Republican said his talks with Obama will continue.

Earlier, Senate Majority Leader Harry Reid said Boehner's plan would not pass the Democratic-run Senate.

Reid, a Democrat, said Boehner instead should focus on reaching a broad deficit-reduction deal with Obama.

"Now is the time to show leadership, not kick the can down the road," said Reid, who also cautioned Boehner to avoid succumbing to tea party pressure.

Last July, Reid's Democrats passed a bill in the Senate that would have continued low tax rates, which are set to expire on December 31, for families with net incomes below $250,000.

Without an agreement, taxes will rise for nearly every American on January 1 and wide-ranging spending cuts will also begin taking effect.

284

Source:
Agencies
Topics in this article
People
Organisation
Featured on Al Jazeera
Italy struggles to deal with growing flood of migrants willing to risk their lives to reach the nearest European shores.
Israel's Operation Protective Edge is the third major offensive on the Gaza Strip in six years.
Muslims and Arabs in the US say they face discrimination in many areas of life, 13 years after the 9/11 attacks.
At one UN site alone, approximately four children below the age of five are dying each day.
Featured
Rights groups say the US prosecution of terrorism cases targets Muslims and are fraught with abuses.
Local painters forgo experimentation to cater to growing number of foreign buyers.
Cyprus is a tax haven and has long attracted wealthy Russians, but it could become a European energy hub.
Palestinians in Gaza have been shocked by the scale of Israeli destruction, as long-term truce efforts continue.
The Positive Action Foundation Philippines, manned by HIV-positive staff, provides care to those who have no one else.
join our mailing list