Political Headlines December 17, 2012: President Barack Obama, White House Make New Offer to Speaker John Boehner in Talks To Avoid Fiscal Cliff — Deal Close

POLITICAL HEADLINES

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OBAMA PRESIDENCY & THE 112TH CONGRESS:

THE HEADLINES….

White House Makes New Offer in Talks To Avoid Fiscal Cliff

Source: ABC News Radio, 12-17-12

MANDEL NGAN/AFP/Getty Images

They are getting closer.

The White House presented a new offer to Speaker of the House John Boehner Monday that makes some important concessions in the talks to work out a deal to avoid the so-called fiscal cliff, a mixture of tax rate hikes and spending cuts that go into effect in January if a deficit reduction agreement is not reached. This White House package comes in response to the offer Boehner made to allow tax rates rise on those making $1 million.

The new offer from the White House includes fewer tax increases and more limits on the entitlement spending — including limits on cost of living adjustments for Social Security recipients — than the President’s previous offers.

Speaker of the House John Boehner will present this latest White House offer to House Republicans Tuesday morning. Here are some of the key concessions….READ MORE

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