THE HILL |
News from The Hill:Boehner, House GOP reject debt deal offer from White House Speaker John Boehner (R-Ohio) on Thursday rejected a White House offer to avert the fiscal cliff that would include $1.6 trillion in tax increases, $400 billion in spending cuts and a permanent increase in the debt ceiling, Republican aides said. Aides said the offer was made by Treasury Secretary Tim Geithner and Rob Nabors, a top White House adviser, during their meeting with Republican leaders in the Capitol. While the Obama administration described the offer as reducing the deficit by $4 trillion over 10 years, Republican told The Hill its tax increases amount to $600 billion more than what the Democratic-led Senate passed earlier this year when it approved legislation that would allow tax rates on top earners to rise.
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