USA TODAY: President Obama has scheduled a meeting Friday with Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker John Boehner and House Minority Leader Nancy Pelosi at the White House…
Reid wants the House to take up a Senate-passed bill to extend the current George W. Bush era tax rates for everyone making $250,000 or less, about 98% of earners, which President Obama made a central issue of his re-election campaign.
House Republicans have countered that the Senate could take up House-passed legislation to extend all of the current tax rates, as well as a separate piece of legislation that alters the scheduled spending cuts to protect defense programs in order to avert the “fiscal cliff.” … (more)
