The New York Times
Thursday, July 21, 2011 -- 1:10 PM EDT
-----
Obama and Boehner Close to Major Budget Deal, Officials Say
The Obama administration has informed Democratic Congressional leaders that President Obama and Speaker John A. Boehner were starting to close in on a major budget deal that would enact substantial spending cuts and seek future revenues through a tax overhaul, Congressional officials said Thursday.
With the government staring at a potential default in less than two weeks, the officials said the administration on Wednesday night notified top members of Congress that a bargain with Mr. Boehner could be imminent. The Congressional leaders, whose help Mr. Obama would need to bring a compromise forward, were told that the new revenue tied to the looming agreement to increase the debt limit by Aug. 2 would be produced in 2012 through a tax code rewrite that would lower individual and corporate rates, close loopholes, end tax breaks and make other adjustments to produce revenue gains.
Read More:
http://www.nytimes.com/2011/07/22/us/politics/22fiscal.html?hp&emc=na
About This E-Mail
You received this message because you are signed up to receive breaking news
alerts from NYTimes.com.
To unsubscribe, change your e-mail address or to sign up for daily headlines
or other newsletters, go to:
http://www.nytimes.com/email
NYTimes.com
620 Eighth Ave.
New York, NY 10018
Copyright 2011 The New York Times Company
No comments:
Post a Comment