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White House Rejects Boehner's Plan B

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Description
FBN's Rich Edson on major developments in the battle for the fiscal cliff.
Duration 1:52
Date Dec 18, 2012

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Two major developments in the battle over that fiscal cliff house Republicans of meeting and about three hours from now to plan there.

Very next move what comes up to President Obama raised his income threshold for tax hikes -- 400000.

Dollars and -- -- -- proposed -- back up plan that was quickly rejected by the White House.

Are -- -- -- once again live in DC with -- all the very latest on the wrangling that's going on rich.

The well house Republicans -- just a few hours for more details on speaker Boehner is back up plan that's a proposal to prevent a tax rate increase.

On families earning less than a million dollars a year Democrats say speaker Boehner is planned.

The White House says the president has offered a reasonable bipartisan compromise speaker Boehner says that's not so.

The White House -- production that was essentially at one point three trillion dollars.

In new revenues.

For only 850 billion dollars.

In net spending reductions.

That's not balanced.

In my opinion.

White house Press Secretary Jay Carney says the president has demonstrated he is willing to move.

Towards Republicans and using as evidence that -- the speaker has raised his threshold the president has races threshold.

For tax increases from 250000.

Dollars to 400000 dollars now despite voting on the back up plan later this week.

Speaker Boehner says he will continue to negotiate a larger bipartisan debt deal with the president.

The speakers back up plan fails to address the automatic spending cuts scheduled to begin in January now on that comprehensive debt deal.

The president -- -- remain a few hundred billion dollars apart on spending cuts tax increases.

And by how much to raise the debt ceiling that last point.

Very difficult for Republicans to swallow bacteria to date of the clock keeps ticking rich -- in DC with the latest thanks rich thanks.