John Boehner, Tax Hikes | featured news

Lawmakers say Congress probably could resolve the so-called "fiscal cliff" if Republican leaders let Democrats provide most of the votes....

House Speaker John A. Boehner’s "Plan B" on the budget talks, bringing to a vote his proposal to extend expiring tax breaks for all but those Americans who earn more than $1 million a year, ran almost immediately into stiff resistance Tuesday.

U.S. President Barack Obama and John Boehner, the top Republican in Washington, met at the White House on Monday to try to reach a budget deal that would head off steep tax hikes and spending cuts that could push the economy into recession next year.

Politico is reporting that one of its sources claims John Boehner has placed tax increases for the wealthy on the table. He has been adamant that Republicans would never agree to a tax increase for anyone. President Obama has said that there would be no agreement to end the chance of falling over the “fiscal cliff”, without increasing taxes on the wealthiest 2 percent.

House Speaker John Boehner said on Thursday that no substantive progress has been made to avoid the "fiscal cliff" of spending cuts and tax hikes that will start to go into effect early next year if Washington does not act.

Flush with re-election vigor, President Barack Obama on Friday will provide his first public comments on the upcoming negotiations with Congress on how to deal with pending tax hikes and spending cuts that create the so-called fiscal cliff facing the economy at the end of the year.