House Speaker John Boehner offered
to raise income tax rates on households earning more than $1
million a year in exchange for containing the cost of federal
entitlement programs, as part of a deal with President Barack Obama to cut the federal deficit, according to two people
familiar with the talks.
The offer, made in a Dec. 14 phone call between the two
leaders, marks the first time Boehner has entertained an
increase in income tax rates in his talks with Obama to avoid
more than $600 billion in automatic spending cuts and across-
the-board tax increases set to start next month.Read more: http://www.businessweek.com/news/2012-12-15/boehner-offers-obama-tax-rate-increase-for-entitlement-cuts
No comments:
Post a Comment