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Obama cuts revenue demand to ${esc.dollar}1.4 trillion in 'fiscal cliff' talks

Source: Thomson Reuters Foundation - Wed, 12 Dec 2012 00:04 GMT
Author: Reuters
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WASHINGTON, Dec 11 (Reuters) - U.S. President Barack Obama's latest counteroffer to avert the year-end "fiscal cliff" includes new tax revenues of ${esc.dollar}1.4 trillion over 10 years, down from the ${esc.dollar}1.6 trillion he initially demanded, congressional aides said on Tuesday.

The ${esc.dollar}200 billion reduction was part of the White House's latest offer to Republican House of Representatives Speaker John Boehner, who also made a counteroffer to Obama on Tuesday. Further details of the two offers were not immediately available.

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