Obama: Wealthy Must See Higher Taxes Under Plan - Spokane, North Idaho News & Weather KHQ.com

Obama: Wealthy Must See Higher Taxes Under Plan

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  • Friday, November 9 2012 11:47 AM EST2012-11-09 16:47:53 GMT
    WASHINGTON (AP) - House Speaker John Boehner says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating special interest loopholes and revising the tax code.
    WASHINGTON (AP) - House Speaker John Boehner says any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating special interest loopholes and revising the tax code.

WASHINGTON (AP) - President Barack Obama says raising taxes on wealthiest Americans must be part of deficit reduction plan but says he is "open to compromise" and "new ideas." Obama says he will refuse to accept any approach that "isn't balanced."
    
Obama says in his first public comments since the election that Congress should pass a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans. He says lawmakers from both parties need to work together to tackle the nation's fiscal problems.
    
The president says he is inviting congressional leaders of both parties to the White House next week for talks on how to avoid the fiscal cliff. Lawmakers face a Jan. 2 deadline to reach an agreement.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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