Fiscal Cliff UPDATE

By: Associated Press Email
By: Associated Press Email

Treasury Secretary Tim Geithner says Republicans need to make the next move in negotiations to head off the tax hikes and spending cuts known as the "fiscal cliff."

In interviews with the Sunday morning TV talk shows, Geithner says GOP leaders have to stop using "political math" and say how much they are willing to raise tax rates on the wealthiest 2 percent of Americans and then specify the spending cuts they want.

House Speaker John Boehner says Republicans have a plan that will provide as much as $800 billion in new government revenue over the next decade and would consider the elimination of tax deductions on high-income earners. But when pressed for details on "Fox News Sunday," the Ohio Republican would only say there are "a lot of options in terms of how to get there."

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