WASHINGTON–House Speaker John Boehner (R-Ohio) and President Barack Obama huddled for 45 minutes Monday at the White House over the looming fiscal cliff deadline.
The meeting, scheduled to start at 11 a.m. est, came after staff for Boehner and Obama met over the weekend.
Boehner has put an important concession on the table: He has proposed allowing tax rates to rise for earners above $1 million. Obama wants the federal income tax rates to rise for those with incomes over $250,000. There is still a wide gap here–but at least there is some movement.
The big question: How welded is each side to their numbers?
A series of automatic tax increases and spending cuts kicks in if Congress does not act by Dec. 31.
