Open

Coming up

Don't miss

Replay


LATEST SHOWS

MEDIAWATCH

A thin line between fact-checking and propaganda in Gaza social media coverage

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive (part 2)

Read more

DEBATE

Gaza: How to Stop the Spiral? Israel Readies For Ground Offensive

Read more

FOCUS

Ireland's missing babies casting light on a dark history...

Read more

WEB NEWS

World Cup 2014: Germany-Brazil inspires the Web

Read more

THE INTERVIEW

Boutros-Ghali: 'I wanted to reform the UN'

Read more

IN THE PAPERS

57 000 little problems

Read more

IN THE PAPERS

The Sarkozy 'threat'

Read more

BUSINESS DAILY

Budget challenge for India's new government

Read more

  • US prepared to negotiate Gaza ceasefire, Obama says

    Read more

  • Manhunt as FIFA partner flees Rio hotel to avoid arrest

    Read more

  • French companies will have to accept anonymous CVs

    Read more

  • Ukrainian forces close in on Donetsk

    Read more

  • Germany asks US intelligence station chief to leave country

    Read more

  • Hamas rockets reaching deeper into Israel

    Read more

  • UN chief Ban Ki-moon appoints new Syria mediator

    Read more

  • Video: Muslims in China confront obstacles to Ramadan fasting

    Read more

  • Tour de France passes WWI Chemin des Dames battlefield

    Read more

  • Senegalese man awarded French visa in gay marriage debate

    Read more

  • Israel steps up airstrikes as diplomacy gets under way

    Read more

  • Argentina beat Netherlands on penalties to reach World Cup final

    Read more

  • Foiled French jihadist ‘targeted Louvre and Eiffel Tower’

    Read more

  • Obama in Texas to urge congressional action on child migrant crisis

    Read more

  • Iraq’s heritage 'in danger' from ISIS militants

    Read more

Americas

Republicans take conciliatory approach to 'fiscal cliff' talks

©

Text by News Wires

Latest update : 2012-11-16

Republican lawmakers said Friday they would be prepared to agree to additional revenue, as negotiations with their Democrat counterparts began towards averting the so-called 'fiscal cliff'. Failure to reach an agreement could slow the US economy.

Top Republicans emerged from a meeting at the White House on Friday saying they are prepared to agree to additional revenue in order to avert looming harsh tax hikes and spending cuts, as long as there also are reductions in spending.

“To show our seriousness, we’ve put revenue on the table as long as it’s accompanied by significant spending cuts,” House Speaker John Boehner told reporters at the White House.

Mitch McConnell, the most powerful Republican in the Senate, also offered conditional backing for new revenue, but said reforms to social safety net programs also are necessary.

“We fully understand that you can’t save the country until you have entitlement programs that fit the demographics of changing America in the coming years,” the Senate minority leader said. “We’re prepared to put revenue on the table provided we fix the real problems.”

Lawmakers sought to establish a conciliatory tone in their first round of talks on the so-called fiscal cliff after Obama was re-elected to a second four-year term. Boehner, McConnell, House Minority Leader Nancy Pelosi and Senate Majority Leader Harry Reid all described the initial discussions as “constructive.”

Financial markets and others are nervous that lawmakers may fail to reach a deal, which would put a sharp brake on the U.S. economy, and the lawmakers sought to reassure the public of progress. Reid said they would work through the Thanksgiving holiday to craft an agreement, which Pelosi said she hopes comes before Christmas.

“I was focusing on how we send a message of confidence to consumers, to the markets, in the short run too,” she said of their meeting with the president.

Boehner said he had outlined a deal that includes tax code reforms and spending cuts.

“The framework I’ve outlined in our meeting today is consistent with the president’s call for a fair and balanced approach,” he said.

Lawmakers will meet with the president again after Thanksgiving, Reid said.

(REUTERS)
 

Date created : 2012-11-16

  • USA

    Obama warns of automatic tax rises after 'fiscal cliff'

    Read more

  • US ELECTIONS 2012

    Split Congress presents familiar challenge for Obama

    Read more

  • US ELECTIONS 2012

    ‘Republicans must wake up to a changing electorate’

    Read more

Comments

COMMENT(S)