Treasury Secretary Timothy Geithner says it’s up to congressional Republicans to take the next step in budget talks to avoid the pending automatic spending cuts and tax increases at the end of the year.
Appearing on the Sunday talk shows, Geithner said there’s “no path to an agreement” until Republicans are willing to accept higher tax rates on the rich.
The GOP argues that if tax revenues must go up, it would be better to leave rates alone and instead limit deductions, or “loopholes.”
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