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

Fiscal Cliff talks stall on Capitol Hill

Posted: Updated:
  • CBS19.tv Web ExclusivesMore>>

  • Web Exclusive: Company cancels class to nix Southern accents, y'all, after complaints

    Web Exclusive: Company cancels class to nix Southern accents, y'all, after complaints

    Wednesday, July 30 2014 12:00 PM EDT2014-07-30 16:00:17 GMT
    We live in the South, so some of us may have a Southern accent, but would you consider saying "goodbye" to "howdy, y'all"?
    The Oak Ridge National Laboratory in Tennessee was going to offer a speech class for its workers next month to do just that, until it got canceled.
    More >>
    We live in the South, so some of us may have a Southern accent, but would you consider saying "goodbye" to "howdy, y'all"?
    The Oak Ridge National Laboratory in Tennessee was going to offer a speech class for its workers next month to do just that, until it got canceled.
    More >>
  • Web Exclusive: Ultra HD TVs

    Web Exclusive: Ultra HD TVs

    (CNN) -Some people just have to have the latest in television technology. The newest TVs on the market- ultra-high definition TVs- or UHD TVs. They have higher screen resolution than current high def screens, and are also known as "4-K" sets. "More >>
    (CNN) -Some people just have to have the latest in television technology. The newest TVs on the market- ultra-high definition TVs- or UHD TVs. They have higher screen resolution than current high def screens, and are also known as "4-K" sets. "More >>
  • Web Exclusive: A product to help keep sharks away on sale

    Web Exclusive: A product to help keep sharks away on sale

    Monday, July 28 2014 9:40 AM EDT2014-07-28 13:40:46 GMT
    If you're headed on a beach vacation, there's a product you may be interested in to help keep sharks away.  The device is called a Shark Shield.  It is now being sold in Florida.More >>
    If you're headed on a beach vacation, there's a product you may be interested in to help keep sharks away.  The device is called a Shark Shield.  It is now being sold in Florida.More >>

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.

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 2000 - 2014 WorldNow and KYTX. All Rights Reserved. Users of this site agree to the Terms of Service, Privacy Notice/Your California Privacy Rights, and Ad Choices.