WASHINGTON, DC-With exactly two weeks before the Bush era taxrates are scheduled to end and draconian spending cuts put inplace, Democrats and Republicans are showing signs of forging somekind of consensus to avoid the worst.
The White House stepped away from its earlier position that taxrelief should be limited to families with incomes of$250,000. Now that ceiling has risen to$400,000. President Obama alsoincluded in his offer some $1.2 trillion in spending cuts, alongwith the $1.2 trillion he expects to realize in revenues.
This offer followed an offer from the Speaker of theHouse John Boehner, which was based on $1 trillion inspending cuts and $1 trillion in revenues.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
