Draggingtree Posted December 30, 2012 Share Posted December 30, 2012 Politico: ‘Major setback’ in fiscal cliff talks By MANU RAJU and JOHN BRESNAHAN | 12/30/12 12:15 PM EST Updated: 12/30/12 3:35 PM EST Negotiations between Senate Majority Leader Harry Reid and Minority Leader Mitch McConnell suffered a “major setback” after Republicans demanded the inclusion of a new method for calculating entitlement benefits as part of the fiscal cliff package, according to Democrats. The provision, known as “chained CPI,” is opposed by many liberals because it would result in lower payments for Social Security beneficiaries. While President Barack Obama has backed the provision as part of a major deficit package, Democrats are objecting to including this as part of the negotiations on a scaled-down fiscal cliff deal. They say they’ve already given ground on other issues, including raising the threshold for new taxes to around $400,000 annually as well as showing flexibility on estate taxes, sources said. Link to comment Share on other sites More sharing options...
Draggingtree Posted December 30, 2012 Author Share Posted December 30, 2012 Real Clear Politics: Sen. Reid To GOP: "At This Stage We're Not Able To Make A Counteroffer" SEN. MITCH MCCONNELL (R-KENTUCKY): My office submitted our latest offer to the Majority Leader last night at 7:10 p.m. and offered to work through the night to find common ground. The Majority Leader's staff informed us they would be getting back to us this morning at 10:00 a.m., despite the obvious time crunch we all have. It's now 2:00 p.m., and we have yet to receive a response to our good-faith offer. Now, I'm concerned about the lack of urgency here. I think we all know we're running out of time. This is far too much at stake for political gamesmanship. We need to protect the American families and businesses from this looming tax hike. Everyone agrees that that action is necessary. In order to get things moving, I have just spoken with the Majority Leader Link to comment Share on other sites More sharing options...
pollyannaish Posted December 30, 2012 Share Posted December 30, 2012 So tell me, who is being intractable here? Reid's statement almost sounds like veiled frustration with the president. Link to comment Share on other sites More sharing options...
clearvision Posted December 30, 2012 Share Posted December 30, 2012 G.O.P. Yields on Fiscal Point, Clearing Way for More Talks Link to comment Share on other sites More sharing options...
pollyannaish Posted December 30, 2012 Share Posted December 30, 2012 On which fiscal point? Link to comment Share on other sites More sharing options...
clearvision Posted December 30, 2012 Share Posted December 30, 2012 sorry forgot to turn it into a link.... The SS CPI indexing. http://www.nytimes.com/2012/12/31/us/politics/obama-accuses-republicans-of-blocking-tax-deal.html Link to comment Share on other sites More sharing options...
pollyannaish Posted December 30, 2012 Share Posted December 30, 2012 Yep, still the GOPs fault. Link to comment Share on other sites More sharing options...
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