Tangible offers were exchanged between President Obama and House Speaker Boehner yesterday, with both sides presenting new plans to address the impending fiscal cliff.
While little is known about the Republican offer, the White House is now asking for $1.4 trillion in new tax revenues instead of the $1.6 trillion initially demanded.
Tennessee Republican Rep. Marsha Blackburn joins Soledad on Starting Point today to discuss the various points of contention in the negotiations and to explain why she opposes raising taxes on the top 2% of Americans.
“The president’s plan would generate eight days of revenue. So you’re going to raise taxes on the top two percent, and you’re going to pay for two percent of your spending. This makes no sense,” Rep. Blackburn says. “You have to deal with the spending issues. Just raising taxes on the top two percent makes the problem worse.”