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December 4th, 2012
12:21 PM ET

Rep. Becerra: GOP's fiscal cliff counter-offer fails ‘fairness’ test

Tuesday, President Obama is set to meet with governors from both parties to discuss their recommendations to the fiscal cliff crisis. On Monday, the president rejected a GOP proposal laid out in a letter by House leaders that aimed to keep the Bush-era tax cuts intact for everyone including Americans making over $250,000. The GOP proposal would also generate $800 billion in tax revenue by closing loopholes and deductions, and includes $600 billion in savings from government healthcare programs like Medicare.

This plan is a stark contrast to the one presented by the White House last week that calls for raising tax rates on the wealthiest Americans, seeks $400 billion in savings from government health programs and keeps changes to social security off the table. 

With just 28 days until the country falls off the cliff, Rep. Xavier Becerra (D-CA) shares his thoughts on whether both sides can reach a middle ground in time.

Filed under: Fiscal cliff
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