Where Fiscal Cliff Talks Go From Here
Posted at 12:15 p.m. on Dec. 21, 2012
Politico looks at the three options available to lawmakers with just 10 days remaining to avoid the “fiscal cliff.”
“The White House’s best hope is that Boehner takes a drastically different course and breaks with his own allies. He could decide to negotiate the best bipartisan package possible and put it on the floor with unanimous Democratic support and the backing of Republicans who want to avoid the cliff. But there’s little expectation that he’ll go that route.”
“Instead, they may need to settle for a smaller deal under consideration by Senate leaders — an extension of tax breaks on income below $250,000 and unemployment insurance, along with a fix for both the alternative minimum tax, which hits upper middle-income families, and the annual cut in reimbursement rates for Medicare providers. This package would not address the dramatic spending cuts scheduled to take effect in the new year.”
“Or Obama does nothing and waits until a market shock or voter outrage forces both parties back to the table.”
