At the Wall Street Journal, "Door Open to Compromise on Tax Breaks in 'Cliff' Talks":
WASHINGTON—President Barack Obama invited congressional leaders to the White House next Friday to begin talks to avoid the so-called fiscal cliff, opening the door to a possible compromise on taxes.Continue reading.
Mr. Obama said any deal would have to result in wealthy Americans paying more in taxes, but he notably did not repeat his campaign call to let the top tax rate rise on household incomes above $200,000 for individuals and above $250,000 for couples. That left open the possibility of raising tax revenue by limiting or eliminating tax deductions or other tax breaks for families above those thresholds.
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