Obama cuts revenue demand in fiscal cliff talks

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.