Monday, November 12, 2012

Propose $1.5 trillion in new taxes over 10 years

GOP party conference described as "balky, hard to lead"
Forcing negotiations this time is the fiscal cliff, the combination of expiring tax breaks and mandatory spending cuts that will begin in January unless the White House and Congress can agree on a plan to postpone or replace the measures. Going over the cliff would likely send the country back into a recession, economists and budget experts have predicted.
These negotiations will be a high-profile test of Mr. Boehner's leadership of his own party conference, a balky, hard-to-lead crowd. He is walking a tightrope between the party's large conservative faction that has put a premium on confrontation and its more pragmatic wing. He is asking his colleagues to give him latitude to size up and navigate the new political landscape—and for now, at least, they seem to be giving it to him. - “The Wall Street Journal,” Sunday, 11/11/12

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