Obama, Boehner Meet To Talk About 'Fiscal Cliff' - Spokane, North Idaho News & Weather KHQ.com

Obama, Boehner Meet To Talk About 'Fiscal Cliff'

Posted: Updated:

WASHINGTON (AP) - President Barack Obama and House Speaker John Boehner have met at the White House to talk about the "fiscal cliff."
    
Officials say the two met today for about 45 minutes.
    
They're running out of time if they hope to make an agreement and get it passed through Congress before the cliff strikes at the beginning of January. A mix of huge tax increases and deep cuts to the Pentagon and other federal agencies starts taking effect Jan. 1.
    
Given the pressing timetable, the two men are hoping to set the broad parameters of an agreement while taking care of urgent business like extending tax cuts for most earners, preventing sharp cuts in Medicare physician payments, and making sure millions of taxpayers don't get struck by the alternative minimum tax.
    
On Friday, Boehner offered $1 trillion in higher tax revenue over 10 years and an increase in the top tax rate on people making more than $1 million a year. The House speaker is also offering a large enough extension in the government's borrowing cap to fund the government for one year before the issue must be revisited - as long as Obama agrees to the $1 trillion in cuts.
    
More progress was made in staff negotiations over the weekend.

  • Most Popular StoriesMost Popular StoriesMore>>

  • VIRAL VIDEO: Holy Moly! This girl is definitely NOT afraid of spiders!

    VIRAL VIDEO: Holy Moly! This girl is definitely NOT afraid of spiders!

    Monday, September 1 2014 12:00 PM EDT2014-09-01 16:00:12 GMT
    KHQ.COM - You don't even know what this girl is about to do to prove she is definitely NOT afraid of spiders! Is she crazy or just fearless? Would you do this for $500? $1,000? $20,000? >>>WATCH>>>>>
    KHQ.COM - You don't even know what this girl is about to do to prove she is definitely NOT afraid of spiders! Is she crazy or just fearless? Would you do this for $500? $1,000? $20,000? >>>WATCH>>>>>
  • One person dead after hit & run in Spokane Valley

    One person dead after hit & run in Spokane Valley

    Tuesday, September 2 2014 1:02 PM EDT2014-09-02 17:02:36 GMT
    KHQ.COM - One person is dead after a hit and run near I-90 Park Rd. in Spokane Valley. It happened around 1:30 am on Tuesday. At this point police do not have a suspect description but are asking for anyone who may have witnessed the incident to call Crime Check at 509-456-2233.>>
    KHQ.COM - One person is dead after a hit and run near I-90 Park Rd. in Spokane Valley. It happened around 1:30 am on Tuesday. At this point police do not have a suspect description but are asking for anyone who may have witnessed the incident to call Crime Check at 509-456-2233.>>
  • TRENDING: Jennifer Lawrence requests nude pics investigation

    TRENDING: Jennifer Lawrence requests nude pics investigation

    Monday, September 1 2014 3:50 PM EDT2014-09-01 19:50:31 GMT
    LOS ANGELES (AP) - A publicist for Jennifer Lawrence says the actress has contacted authorities after nude photos of her were apparently stolen and posted online. Intimate images of the Oscar winning actress began appearing online on Sunday and nude images purported to be of other female celebrities were also being circulated online.>>
    LOS ANGELES (AP) - A publicist for Jennifer Lawrence says the actress has contacted authorities after nude photos of her were apparently stolen and posted online. Intimate images of the Oscar winning actress began appearing online on Sunday and nude images purported to be of other female celebrities were also being circulated online.
    >>