In new 'cliff' bid, Obama seeks $1.2 trillion in revenue: source


The president's proposal calls for "fast track processes" for further tax and spending reforms, the source said.

A senior Republican congressional aide familiar with the negotiations said that while there were "substantive differences" with the White House, he still was hopeful "that we can at some point get to a framework that allows us to move forward on tax and entitlement reform."

The aide emphasized that negotiations with the White House had not yet gotten into detailed discussions on potentially complicated reforms to the tax code and big social programs like Medicare and Medicaid.

For example, the aide said no decisions had been made on where Medicare and Medicaid savings would come from - beneficiaries or medical providers. "All that is still to be decided," the aide said.

Please read our terms of use before posting comments
TERMS OF USE: The views expressed in comments published on are those of the comment writer's alone. They do not represent the views or opinions of The Indian Express Group or its staff. Comments are automatically posted live; however, reserves the right to take it down at any time. We also reserve the right not to publish comments that are abusive, obscene, inflammatory, derogatory or defamatory.