Fiscal Cliff talks stall on Capitol Hill - KYTX CBS 19 Tyler Longview News Weather Sports

Fiscal Cliff talks stall on Capitol Hill

Posted: Updated:

WASHINGTON (CBS) - Treasury Secretary Timothy Geithner says it's up to Republicans to provide a plan to avoid the fiscal cliff.

The series of tax increases and spending cuts are due to kick in at the end of the year. Geithner, the President's lead negotiator, says because Republicans shot down the Presidents plan, they need to say what it is they are willing to do to avoid the cliff.

House Speaker John Boehner responded saying the Obama Administration isn't taking Republicans seriously with their plan to close loopholes and limit deductions without raising taxes.

"I realize the president may disagree but the fact is, if there's another way to get revenue from upper-income Americans that doesn't hurt our economy then why wouldn't we consider it?"

"There's just no reason why 98% of Americans should see their taxes go up because some members of Congress on the Republican side want to block tax increases for two percent of the wealthiest Americans," says Treasury Secretary Timothy Geithner.

The Democratic controlled Senate has already voted to extend the Bush cuts for incomes under $250-thousand dollars and letting the others expire. Moody's Analytics is predicting there will be at least a short term deal reached before the end of the year.

  • Local NewsMore>>

  • Jacksonville Communications Officer Killed in One Vehicle Crash

    Jacksonville Communications Officer Killed in One Vehicle Crash

    Monday, April 14 2014 11:31 PM EDT2014-04-15 03:31:53 GMT
    SMITH COUNTY (KYTX) -- DPS says a woman is dead after a crash Monday afternoon.  It happened just before 2:00 p.m. at the intersection of Mixon Road and Yarborough Lane in Smith County.  At this pointMore >>
    A Jacksonville Police communications officer has died after a crash Monday afternoon.
    More >>
  • Family remembers Fort Hood shooting victim with Illinois ties

    Family remembers Fort Hood shooting victim with Illinois ties

    Thursday, April 3 2014 10:35 PM EDT2014-04-04 02:35:25 GMT
    EFFINGHAM (WCIA)  -- One of the victims in a deadly shooting in Fort Hood went to school in central Illinois. Family members say 37-year-old Army Sergeant Tim Owens went to Southside Elementary in Effingham.  Owens'More >>
    One of the victims in a deadly shooting in Fort Hood went to school in central Illinois. Family members say 37-year-old Army Sergeant Tim Owens went to Southside Elementary in Effingham.More >>
  • UPDATE: Ferry was "too listed" for passengers to board lifeboats

    UPDATE: Ferry was "too listed" for passengers to board lifeboats

    UPDATE: Ferry was "too listed" for passengers to board lifeboats

    Sunday, April 20 2014 9:12 AM EDT2014-04-20 13:12:41 GMT
    Jindo, South Korea (CNN) -- A South Korean captain, standing in handcuffs before reporters, defended his order to delay the evacuation of his sinking ferry, CNN affiliate YTN reported early Saturday. TheMore >>
    Passengers aboard the doomed South Korean ferry could not board lifeboats because the vessel had already listed too much, a crew member on the ship said, according to a radio transcript released Sunday.More >>
Powered by WorldNow

CBS19, MYTX & KCEB
2211 ESE Loop 323
Tyler, TX 75701
Phone (903) 581-2211
Fax (903) 581-5769

Powered by WorldNow
All content © Copyright 2004 - 2014, WorldNow and KYTX, Owned and Operated by London Broadcasting Company.
All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.