UPDATED: GOP Proposes New 'Fiscal Cliff' Offer To Obama - Spokane, North Idaho News & Weather KHQ.com

UPDATED: GOP Proposes New 'Fiscal Cliff' Offer To Obama

WASHINGTON (AP) - House Republicans negotiating with President Barack Obama on avoiding the so-called fiscal cliff are proposing to increase the eligibility age for Medicare and to lower cost-of-living hikes in Social Security benefits.
    
The proposal is a response to Obama's offer last week to hike taxes by $1.6 trillion over the coming decade but to exempt Medicare and Social Security from cuts to beneficiaries.
    
The GOP plan also proposes to raise $800 billion in higher tax revenue over the decade but would keep the Bush-era tax cuts - including those for wealthier earners being targeted by Obama - in place for now.
    
House Speaker John Boehner said the GOP proposal is a "credible plan" for Obama and that he hopes the administration would "respond in a timely and responsible way."

PREVIOUS STORY:

WASHINGTON (AP) - President Barack Obama and Republicans are playing a game of political chicken as the end-of-year deadline approaches for averting the "fiscal cliff," a combination of expiring tax reductions and across-the-board spending cuts.
    
Obama proposes $1.6 trillion in higher taxes over a decade and heightened presidential power to raise the debt limit. In exchange, Obama proposes $600 billion in spending cuts, including some to Medicare. He also wants $200 billion in new spending to support economic recovery.
    
Based on the rhetoric, an agreement may not come quickly.
    
Treasury Secretary Timothy Geithner says Republicans don't have a plan and should say how much they're willing to raise taxes on the rich.
    
House Speaker John Boehner says Obama's plan isn't serious. He says Republicans have plenty of ideas, but he's not giving specifics.

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 This material may not be published, broadcast, rewritten or redistributed.)

  • Most Popular StoriesMost Popular StoriesMore>>

  • Man accused of killing Cheney pot shop employee confesses in interview

    Man accused of killing Cheney pot shop employee confesses in interview

    Monday, September 18 2017 9:50 PM EDT2017-09-19 01:50:23 GMT

    SPOKANE, Wash. - The man who admitted to kidnapping and then killing a stranger outside a Cheney marijuana shop gave a full confession to KHQ's Hayley Guenthner as he sat behind bars. Donavon Culps said he shot victim Cameron Smith "three or four times" after he felt Smith was "disrespectful" to him.

    >>

    SPOKANE, Wash. - The man who admitted to kidnapping and then killing a stranger outside a Cheney marijuana shop gave a full confession to KHQ's Hayley Guenthner as he sat behind bars. Donavon Culps said he shot victim Cameron Smith "three or four times" after he felt Smith was "disrespectful" to him.

    >>
  • Washington State Patrol respond to fatal crash on I-90 near Freya

    Washington State Patrol respond to fatal crash on I-90 near Freya

    Tuesday, September 19 2017 2:42 AM EDT2017-09-19 06:42:39 GMT

    SPOKANE, Wash. - Update: Washington State Patrol troopers say speed may have been a factor in the fatal crash on I-90 Monday night. Troopers say reader boards were activated telling drivers to slow down due to power line work happening on I-90. Troopers say the victim slammed into the back of a semi.

    >>

    SPOKANE, Wash. - Update: Washington State Patrol troopers say speed may have been a factor in the fatal crash on I-90 Monday night. Troopers say reader boards were activated telling drivers to slow down due to power line work happening on I-90. Troopers say the victim slammed into the back of a semi.

    >>
  • NEW COURT DOCUMENTS: Chilling discoveries in aftermath of Freeman School Shooting

    NEW COURT DOCUMENTS: Chilling discoveries in aftermath of Freeman School Shooting

    Tuesday, September 19 2017 2:10 AM EDT2017-09-19 06:10:33 GMT

    KHQ.COM - A newly filed search warrant, specifically for the Freeman School Shooting suspect's high school locker and home, is revealing more information about what led up to those tragic events of Wednesday, September 13th, and what immediately followed. The Search Warrant begins with a description of the events immediately after the shooting.

    >>

    KHQ.COM - A newly filed search warrant, specifically for the Freeman School Shooting suspect's high school locker and home, is revealing more information about what led up to those tragic events of Wednesday, September 13th, and what immediately followed. The Search Warrant begins with a description of the events immediately after the shooting.

    >>
HD DOPPLER 6i
/