"Fiscal cliff" talks reportedly produce some progress

12/16/2012 | Google · Reuters · Bloomberg

President Barack Obama and House Speaker John Boehner, R-Ohio, remain far apart, but there are signs of movement in their "fiscal cliff" talks. Boehner indicated support for a tax increase on people with incomes of more than $1 million and a total of $1 trillion in new revenue over the next decade. In return for $1 trillion of spending cuts, Boehner backed an increase in the debt limit that would put the issue on the back burner for a year.

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