Log in
Please enter your login details

Skip to main content

Breaking News
  • Justice department charges David Petraeus, former director of the CIA, with one count of “unauthorized removal and retention of classified material” (Reuters)
  • U.N. security council creates sanctions regime for South Sudan and threatens to impose travel bans and asset freezes on those blocking peace (Reuters)
  • United Nations will resume peace talks with Libya’s warring factions this week in Morocco and calls for immediate ceasefire (statement – Reuters)
  • JPMorgan Chase reaches $50 million settlement with U.S. department of justice to protect homeowners in bankruptcy (Reuters)
  • U.S. House speaker Boehner has told Republicans house will vote on Senate’s homeland security funding bill later on Tuesday (Reuters)
Facebook Twitter Google+ Reddit

President Obama is being called on to show leadership to avoid the 600 billion dollars worth of tax hikes and spending cuts that have been dubbed the “fiscal cliff”.

He has invited congressional leaders for talks at the White House next Friday and has stressed that he is open to suggestions:

“I’m not wedded to every single detail of my plan. I’m open to compromise. I’m open to new ideas. I’m committed to solving our fiscal challenge. But I refuse to accept any approach that isn’t balanced.”

Republicans have publicly stated they will resist any increase in tax rates. One, the Speaker of the House of Represetatives John Boehner, says it’s up to Obama to come up with a solution:

“This is an opportunity for the president to lead. This is his moment to engage the Congress and work towards a solution that that can pass both chambers. I think we both understand that trying to find a way to avert a fiscal cliff is important for our country.”

Republicans fear that raising taxes on the wealthiest Americans would hit small business owners and cost up to 100,000 jobs.

Copyright © 2015 euronews

More about: