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House Republicans have sent the White House another counteroffer to avert the so-called “fiscal cliff,” Speaker John Boehner’s office confirmed Tuesday.Boehner’s office did not provide any details or specifics about what the offer contains.
Boehner spokesman Michael Steel provided a brief statement:
“We sent the White House a counter-offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs. As the Speaker said today, we’re still waiting for the White House to identify what spending cuts the president is willing to make as part of the ‘balanced approach’ he promised the American people. The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff.”
CNBC reported that Obama sent Republicans a counteroffer on Monday. It included $1.4 trillion in new tax increases, down from $1.6 trillion in the White House’s initial offer.
The GOP’s latest offer comes just more than a week after its original counter-proposal. In that offer, Republicans tried to re-establish a new framework from which to negotiate, based off a plan outlined by former Clinton chief of staff Erskine Bowles.
It proposes to increase revenues by $800 billion through eliminating loopholes and deductions for the wealthiest Americans, cutting $900 billion in mandatory spending and $300 billion in non-discretionary spending.
Earlier on Tuesday, White House press secretary Jay Carney rebutted Boehner’s charge that the president had yet to offer specifics.
“The President, unlike any other party to these negotiations, has put forward detailed spending cuts as well as detailed revenue proposals. It is a simple fact,” Carney told reporters, subsequently holding up a copy of Obama’s 2011 budget plan.