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Article posted: 11/8/2012 7:29 PM

Fiscal cliff: Impasse on tax rates is big hurdle

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Speaker of the House John Boehner, an Ohio Republican, on Wednesday expressed a willingness to discuss tax hikes.

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Senate Majority Leader Harry Reid believes the White House and Congress can avoid the fiscal cliff that looms at the end of the year.

ASSOCIATED PRESS

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House Republicans' hard line against higher tax rates for upper-income earners leaves re-elected President Barack Obama with a tough, core decision: Does he pick a fight and risk falling off a "fiscal cliff" or does he rush to compromise and risk alienating liberal Democrats?
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    • Speaker of the House John Boehner, an Ohio Republican, on Wednesday expressed a willingness to discuss tax hikes.
    • Senate Majority Leader Harry Reid believes the White House and Congress can avoid the fiscal cliff that looms at the end of the year.
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