◼ House Republican leaders on Monday countered President Barack Obama’s opening “fiscal cliff” offer with a proposal to produce $2.2 trillion in budget savings over the coming decade with “a combination of spending cuts, entitlement reforms, and $800 billion in new tax revenue,” The Hill reports. - Becket Adams/The Blaze
GOP Letter to WH
The counteroffer was delivered to the White House via a three-page letter signed by Speaker John Boehner (R-Ohio), Majority Leader Eric Cantor (R-Va.), and other senior Republicans, including former Romney running mate Rep. Paul Ryan (R-Wis.).
The GOP letter begins by outright rejecting the president’s initial offer, which included a $1.6 trillion tax increase (twice the amount he supported during the 2012 presidential election), a $50 billion economic-stimulus program, and the removal of the federal debt limit, as outlined by Treasury Secretary Timothy Geithner.
“[T]he proposal [Secretary Geithner] outlined on behalf of your Administration contains very little in the way of common ground,” the letter reads. “We cannot in good conscience agree to this approach, which is neither balanced nor realistic.”...
◼ So much for “negotiation" - White House reponds to GOP’s counteroffer: Sorry, wrong number, not going there - Erika Johnsen/HotAir
◼ Obama rejects GOP fiscal cliff counterproposal - Zeke Miller/Buzzfeed/Washington Times