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Obama, Boehner move closer to deal, but Boehner also has backup plan



Negotiations between Boehner and President Obama have made significant progress in recent days, with Boehner agreeing to the idea of raising tax rates on the wealthiest Americans, and Obama saying he could accept tax increases for households earning $400,000 or more per year. That threshold is a concession from the president’s campaign pledge to raise rates on those earning at least $250,000, but it remains unacceptable to many Republicans.

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Obama, Boehner move closer to deal, but Boehner also has backup plan
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Obama, Boehner move closer to deal, but Boehner also has backup plan

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