After progress earlier this week in fiscal cliff negotiations, President Barack Obama and House Speaker John Boehner butted heads Wednesday, setting the stage for a showdown as the deadline looms for an agreement.
The negotiations had focused on a $2 trillion package of new revenue, spending cuts and entitlement changes the two sides have shaped into a broad deficit reduction plan.
Boehner on Tuesday proposed a "plan B," which would extend Bush-era tax cuts on income of up to $1 million. He described it as a fallback option to prevent a sweeping tax hike while negotiations continue on a broader plan.
But the White House on Wednesday threatened to veto "plan B," saying it would bring only "minimal" changes in projected budget deficits.
Obama told reporters earlier in the day that Republicans were focused too much on besting him personally rather than thinking about what's best for the country.
"Take the deal," Obama said to Republicans, referring to the broader proposal, adding that it would "reduce the deficit more than any other deficit reduction package" and would represent an achievement.
"They should be proud of it," Obama said. "But they keep on finding ways to say 'no' as opposed to finding ways to say 'yes.' "
His comments at a White House news conference came less than two weeks before the end of the year, when the nation's taxpayers would face automatic tax increases and deep spending cuts if no agreement is reached.
Economists say that failure to reach agreement could spark another recession.
Boehner issued his own statement Wednesday, saying the president had yet to make a proposal offering a balance between increased revenue and spending cuts.
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