“Fiscal cliff” talks frozen, Obama lobbies big business
By Lucy Madison /CBS News/ December 5, 2012, 1:33 PM
With talks between the White House and Congress over a deal to avert the so-called “fiscal cliff” all but frozen, President Obama today turned his focus to the business community, urging attendees at the quarterly meeting of the Business Roundtable to help him lobby Congress for a “balanced” deal that includes tax hikes for the nation’s wealthiest earners.
Mr. Obama, who has recently redoubled his efforts to rebuild a strong relationship with the business world after years of tension, is currently locked in a stalemate with House Republican leaders over averting the so-called “cliff,” a series of tax hikes and spending cuts set to go into effect next year. The president insists he will not sign off on a proposal that does not increase tax rates for households earning $250,000 or more per year, while Republicans have repeatedly reiterated their refusal to raise tax rates.
So far, there’s little reason to believe a deal is in the works: The White House and House Speaker John Boehner each offered up plans reflective of their party’s ideologies, both of which were swiftly rejected by the other side. Moreover, as CBS News’ Major Garrett reported this morning, there were no substantive conversations yesterday at any level at all between the White House and Boehner on the framework for a deal.
https://www.cbsnews.com/8301-250_162-57557326/fiscal-cliff-talks-frozen-obama-lobbies-big-business/