White House Rejects GOP Cliff Plan

Article Excerpt

BY JARED A. FAVOLE AND DAMIAN PALETTA

WASHINGTON?The White House, escalating its effort to knock down a new Republican budget plan as the country nears a crucial deadline, said it would veto the current plan offered by House GOP leaders to raise tax rates only on income above $1 million.

The veto threat Wednesday came as part of a four-page document from the White House that detailed a number of the Obama administration's objections to the new proposal from Speaker of the House John Boehner (R., Ohio). To illustrate the rapid-fire nature of the budget talks, the White House's analysis was released less than 24 hours after ...

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Source: http://online.wsj.com/article/SB10001424127887323277504578189313001251332.html?mod=rss_Politics_And_Policy

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