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  • Obama to open ‘fiscal cliff’ talks with call for $1.6 Trillion in new revenues

    11/14/2012 9:19:01 AM PST · by mojito · 47 replies
    The Hill ^ | 11/14/2012 | Daniel Strauss
    President Obama is taking a tough opening stance in talks over deficit reduction, pushing Republicans to accept a plan that calls for $1.6 trillion in new tax revenue over the next ten years, according to reports. The figure is double the $800 billion last discussed by the White House and House Speaker Boehner (R-Ohio) during their 2011 negotiations on raising the debt-ceiling limit. The president’s plan is based on his most recent budget proposal, which sought the $1.6 in new revenues by targeting the wealthy and corporations. The president and congressional lawmakers are set to meet at the White House...