House Republicans made a new deficit proposal to the White House that calls for $800 billion in tax increases, half of what President Obama proposed and an amount Republicans say could be achieved without raising tax rates.
The GOP offer was immediately rejected by the White House, but it provides the most detailed statement to date of what Republicans are willing to concede for now. It comes days after the White House put forward its opening bid in the high-stakes deficit talks. With both sides now having made preliminary offers, the parameters for future negotiations between Republicans and the White House are becoming clearer.
- 2Why one economist says no recession until at least 2016
- 2Pound rises against the dollar after U.K. GDP data
- 2Pound Halts Three-Day Drop as U.K. Growth Meets Estimates
- 2Deutsche Bank Said to Have Passed ECB Stress Test
- 2Amazon CEO Bezos Faces Season of Worsts as Losses Mount
- 3U.S. Stocks Extend Rally on Earnings; Dollar Declines
- 3Fedâ€™s $4 Trillion Holdings to Boost Growth Beyond End of QE
- 3ECB Set to Fail 25 Banks in Review, Draft Document Shows
- 4Gold Rises From 1-Week Low as Investors Assess Economy
- 3Wall St. little changed as Microsoft offsets Amazon
Become Our Fan
apple asia stocks asian stocks australian dollar bernanke boj china dollar draghi ecb economy eur eur/usd euro euro zone europe stocks european central bank european stocks eurozone eurusd facebook fed federal reserve forex forex news fx gbp/usd gold google greece imf obama oil pound s&p 500 spain stock stock market stocks swiss franc u.s dollar u.s. dollar u.s. economy u.s. stock u.s. stock futures u.s. stocks us dollar usd wall street yen