Obama, Boehner meet at the White House
WASHINGTON (AP) – A White House official says President Barack Obama and House Speaker John Boehner (BAY’-nur) have met at the White House to discuss the pending fiscal cliff and deficit reduction.
Officials say the two met today for about 45 minutes.
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.
The speaker also has offered 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 the president agreeing to $1 trillion in cuts.
The offer was made Friday after a long impasse. It calls for about $450 billion in revenue from increasing the top rate on income over $1 million.