Welcome, Guest Login | Signup | Portfolio | Bookmark | Contact
Markets

Symbol Name
Click for Symbol Help




Deal Path Is $1 Trillion Revenue With Cuts, Baucus Says

Bloomberg - Nov 29, 2012

A revenue increase of at least $1 trillion over 10 years and “significant” spending cuts could form the framework of an agreement to avert the fiscal cliff, said Senate Finance Committee Chairman Max Baucus.

“If there is substantial revenue, over $1 trillion, and significant spending cuts, we are close to getting a deal,” Baucus, a Montana Democrat, said today on Bloomberg Television.

An agreement must include higher tax rates for top earners to generate the needed revenue, Baucus said. The top rate, he said, doesn’t necessarily have to return to the 39.6 percent level it would reach if Congress doesn’t act.

Baucus, whose committee has jurisdiction over tax policy and entitlement programs, spoke today as Treasury Secretary Timothy F. Geithner was shuttling between the offices of congressional leaders.

House Speaker John Boehner, an Ohio Republican, said earlier today that no substantial progress has been made on averting the cliff, composed of more than $600 billion in automatic spending cuts and tax increases scheduled to take effect in January. Boehner said President Barack Obama hasn’t been serious in offering spending cuts.

Read Full Article from Bloomberg

- Posted: 2012-11-29 16:52:33


 More Stock Investor Place Top Stories  
Anglo platinum arm sheds 14,000 jobs, risking unrest
Apple falls below $500
US retail sales rose 0.5 percent in December, led by autos, furniture and clothing sales
Recovery in U.S. Saving 8 Million Underwater Homeowners
Facebook shares rise in buildup to mystery event, earnings

 Stock Investor Place Top Stories Archive
January 2013
December 2012
November 2012
October 2012
September 2012
August 2012
July 2012
June 2012
May 2012
April 2012
March 2012
February 2012
January 2012
December 2011
November 2011
October 2011
September 2011
August 2011
July 2011
June 2011
May 2011
April 2011
March 2011
February 2011
January 2011
December 2010
November 2010
October 2010
September 2010
August 2010
July 2010
June 2010
May 2010
April 2010
March 2010
February 2010
January 2010
December 2009
November 2009
October 2009
September 2009
August 2009
July 2009
June 2009
May 2009
April 2009
March 2009
February 2009
January 2009
December 2008
November 2008
October 2008















Featured Companies | My Place | News | Markets | Big Board | Blogs | Products & Services

Copyright 2024 Stock Investor Place Inc. All Rights Reserved.
Disclaimer - Terms of Use - Privacy Policy - Advertise