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Boehner Offers Millionaire Tax Hike

House Speaker John Boehner has proposed raising top rates for earners making more than $1 million, a person familiar with the negotiations says.

Speaker of the House John Boehner (R)
Speaker of the House John Boehner (R) (Chip Somodevilla/Getty Images)

President Barack Obama, who wants higher top rates for households earning more than $250,000, has not accepted the offer, this person says.

The proposal, however, indicates new progress in talks that had appeared stalled. The person would only discuss the plan on the condition of anonymity because of the sensitivity of the negotiations.

Boehner is still seeking more spending cuts than Obama has proposed, particularly in mandatory health care spending. Boehner has asked for a long-term increase in eligibility age for Medicare and for lower costs-of-living adjustments for Medicare.

Boehner’s tax proposal was first reported by Politico.

A Boehner aide would not comment on the report.

 


(Copyright 2012 The Associated Press. All Rights Reserved)

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