Obama and Boehner Resume US Fiscal Cliff Talks

A handful of top Republicans are giving up their opposition to higher tax rates on the rich, signalling possible progress in the fiscal cliff negotiations and adding pressure to conservatives in the House of Representatives.

The hint at progress came as the White House and the office of House Speaker John Boehner announced they had met on Sunday to discuss the fiscal cliff and that lines of communication remained open. The parties declined to offer more detail.

Bob Corker, a senior Republican senator from Tennessee, said he believed that agreeing to Barack Obama’s demand for an increase in tax rates from 35 per cent to 39.6 per cent for the wealthiest Americans was “the best route for us to take”.

via CNBC

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