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Hollohas, honestly, can you post a link to the agreement to increase taxes part. News changes fast. I am interested to read the next angle. Its better than sports to me.
That's not new news, the GOP agreed to $800 billion in new tax revenue back in July to try to avoid this whole thing in the first place. http://articles.latimes.com/2011/jul...ehner-20110723Originally Posted by nynco
However, the White House countered with a proposal for $1.2 Trillion in new revenue.On Friday, July 15, it seemed the perseverance had paid off.
That day, GOP leaders invited White House officials to Capitol Hill for a private meeting. On the White House side were Chief of Staff William Daley and Treasury Secretary Timothy F. Geithner. Representing the House were Boehner and Rep. Eric Cantor (R-Va.), the majority leader who has taken a leading role among the conservative flank.
The Republicans made an offer: between $3 trillion and $3.5 trillion in spending reductions, and nearly $800 billion in revenue increases over 10 years through overhauling the tax code. Geithner and Daley took it back to the White House.
The GOP put it to a vote (cut, cap and balance act) and it passed the House but didn't in the Senate.
Fast forward to today and the White House wants $1.6 trillion in new revenue. Their number keeps going up...
The GOP went from no new taxes to $800 billion. The White House went from $800 billion to $1.6 trillion. That's not how negotiations work....
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