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Obama cuts revenue demand in fiscal cliff talks

 
Published on Dec 12, 2012
8:15 AM
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This Nov 16, 2012, file photo shows President Barack Obama, accompanied by House Speaker John Boehner of Ohio, speaking to reporters in the Roosevelt Room of the White House in Washington. The US$200 billion reduction was part of the White House's latest offer to Republican House of Representatives Speaker John Boehner, who also made a counteroffer to Mr Obama on Tuesday. -- PHOTO: AP

WASHINGTON (REUTERS) -US President Barack Obama's latest counteroffer to avert the year-end fiscal cliff includes new tax revenues of US$1.4 trillion (S$1.7 billion) over 10 years, down from the US$1.6 trillion he initially demanded, congressional aides said on Tuesday.

The US$200 billion reduction was part of the White House's latest offer to Republican House of Representatives Speaker John Boehner, who also made a counteroffer to Mr Obama on Tuesday.

Further details of the two offers were not immediately available.
 
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