Geithner And Boehner In Stalemate As Fiscal Cliff Crisis Nears
According to Reuters, Treasury Secretary Geithner said it is up to Republicans if the U.S. goes over the "fiscal cliff," a combination of automatic spending cuts and across-the-board tax hikes that could plunge the country into a recession.
"That's a decision that lies in the hands of the Republicans that are now opposing an increase in tax rates" for the wealthiest Americans, a key sticking point in negotiations for a broad deficit-reduction deal, Geithner told "Fox News Sunday."
Taxing the rich remains popular with polls showing most Americans favor raising tax rates on the wealthy.
But House Speaker John Boehner showed he's not concerned with what most Americans want when he reaffirmed his position against increased tax rates.
"When you go and increase rates, you make it more difficult for our economy to grow," Boehner said on a separate Fox News Sunday program. Adding "we're nowhere" in reaching a fiscal cliff deal.
READ MORE: Obama's First Fiscal Cliff Offers Denied By Boehner
Geithner maintains the Bush-era tax cuts for top incomes must go.
Find more of Neon Tommy's fiscal cliff coverage here.
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