Pres. Obama expected to offer scaled-down cliff plan - KSWO, Lawton, OK- Wichita Falls, TX: News, Weather, Sports. ABC, 24/7, Telemundo -

Pres. Obama expected to offer scaled-down cliff plan

Posted: Updated:

WASHINGTON (AP) _ When congressional leaders gather at the White House this afternoon, they'll be hearing a limited proposal from President Barack Obama aimed at avoiding the tax increases and deep spending cuts that are slated to take effect next week.
 
   Lawmakers and White House officials are holding out a slim hope for a deal, but it's not clear whether congressional passage of legislation that both sides can accept is even possible.
 
   Today's meeting -- the first since mid-November -- is expected to center on which income thresholds would face higher tax rates. There will likely be talk about extending unemployment insurance, and preventing a cut in Medicare payments to doctors.
 
   Despite early talk of a grand bargain that would reduce deficits by more than $2 trillion, the expectations now are far less ambitious.
 
   Republicans and Democrats say any agreement will likely include an extension of middle-class tax cuts with increased rates at upper incomes. The deal would likely put off the scheduled spending cuts.

  • Local NewsLocal NewsMore>>

  • New Walmart, theater among Lawton retail projects

    New Walmart, theater among Lawton retail projects

    Tuesday, September 16 2014 12:04 AM EDT2014-09-16 04:04:47 GMT
    New stores are breaking ground while others are opening their doors. After the completion of two large retail projects in the past two years, city officials say they're still working to diversify the shopping and dining selection citywide.
    New stores are breaking ground while others are opening their doors. After the completion of two large retail projects in the past two years, city officials say they're still working to diversify the shopping and dining selection citywide.
  • Duncan audit finds millions in misspent funds

    Duncan audit finds millions in misspent funds

    Sep 15, 2014 07:06 PM2014-09-16 00:05:33 GMT
    According to a recently released audit, the City of Duncan misspent nearly $8 million in fiscal year 2011 alone.
    According to a recently released audit, the City of Duncan misspent nearly $8 million in fiscal year 2011 alone.
  • Residents complain about aggressive door-to-door salesmen

    Residents complain about aggressive door-to-door salesmen

    Monday, September 15 2014 7:55 PM EDT2014-09-15 23:55:16 GMT
    Lawton residents have been complaining about solicitors showing up at their door and being overly aggressive.
    Lawton residents have been complaining about solicitors showing up at their door and being overly aggressive.
Powered by WorldNow
KSWO-TV, 1401 SE 60th Street
Lawton, OK 73501

Telephone: (580) 355-7000
Fax: (580) 357-3811
Email: news@kswo.com

All content © Copyright 2000 - 2014 Worldnow and KSWO. All Rights Reserved. For more information on this site, please read our Privacy Policy and Terms of Service.