WASHINGTON (AP) — Both sides appear to be standing their ground ahead of talks involving President Barack Obama and congressional Republicans on ways to avoid automatic spending cuts and tax hikes in January.
Obama said today he won't accept any approach that doesn't ask the wealthy to pay more in taxes. A spokesman says Obama will veto any legislation extending tax cuts for families making $250,000 or more.
Obama said he isn't wedded to every detail of the plans he outlined during the election, adding that he's "open to compromise." But he offered no indication that he is willing to back down.
Earlier, House Speaker John Boehner said he remains unwilling to raise taxes on upper-income earners. But he left open the possibility of balancing spending cuts with new revenue that could come from revising the tax code to eliminate some tax breaks while also lowering tax rates.
Obama says he's invited congressional leaders of both parties to the White House next week for their first post-election negotiations.
Both parties agree that if the "fiscal cliff" can't be avoided, the tax increases and automatic spending cuts could send the economy back into recession.
174-a-13-(Jay Carney, White House press secretary, at news conference)-"in this country (second reference)"-White House Press Secretary Jay Carney says President Obama will not allow the extension of tax cuts for families making 250-thousand dollars or more. (9 Nov 2012)
<<CUT *174 (11/09/12)>> 00:13 "in this country (second reference)"
159-a-13-(President Barack Obama, in statement)-"more in taxes"-President Obama says any agreement to avoid the fiscal cliff must be balanced. (9 Nov 2012)
<<CUT *159 (11/09/12)>> 00:13 "more in taxes"
144-a-09-(House Speaker John Boehner, R-Ohio, with reporters)-"pass both chambers"-House Speaker John Boehner says the president needs to lead the way to a deal. (9 Nov 2012)
<<CUT *144 (11/09/12)>> 00:09 "pass both chambers"
142-w-34-(Jerry Bodlander, AP correspondent, with House Speaker John Boehner, R-Ohio)--The top Republican on Capitol Hill says the fiscal cliff can be avoided. AP correspondent Jerry Bodlander reports (9 Nov 2012)
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GRAPHICSBANK: Barack Obama headshot, as US President, holding pen while making statement about economy and the deficit, White House East Room, Washington, DC, graphic element on gray (9 Nov 2012)
GRAPHICSBANK: Barack Obama, as US President, and John Boehner, as US Representative of Ohio and House Speaker (r-l) drawing on money texture and US Capitol, partial graphic (8 Nov 2012)
APPHOTO WHDC105: President Barack Obama holds up a pen as he speaks about the economy and the deficit, Friday, Nov. 9, 2012, in the East Room of the White House in Washington. (AP Photo/Carolyn Kaster) (9 Nov 2012)
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APPHOTO DCSW103: House Speaker John Boehner of Ohio calls on a reporter during a news conference on Capitol Hill in Washington, Friday, Nov. 9, 2012. Boehner said any deal to avert the so-called fiscal cliff should include lower tax rates, eliminating special interest loopholes and revising the tax code. (AP Photo/Susan Walsh) (9 Nov 2012)
<<APPHOTO DCSW103 (11/09/12)>>