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Boehner meets GOP leaders to discuss 'fiscal cliff' offer

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    Carl Cameron reports from Washington, D.C.

  • Duration 3:53
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This on the speaker of the house that man John Boehner right -- work at a deal with President Obama as they discuss the president's latest -- -- calls for.

Raising one point two trillion.

Is the number and it would be raised by revenue and tax is basically.

Over the next ten years and it keeps in place.

The bush era tax cuts for anyone making less than -- this is the new magic number on -- it was 250 -- remember.

Now they're at 400000 some people think it should be a million dollars.

Lots negotiating -- up.

-- we're told that's a big concession but sources tell a significant issues to remain on the table and the two sides are working on the finer details.

Team fox coverage Stuart Varney live -- analysis but first chief political pair or correspondent Carl Cameron is live on the hill and we -- Boehner is Bob Barker in the end here what's the latest Karl good morning to you what.

Hey bill crunch time like capital at the capitol on fiscal cliff and how to avert it and there was an offer from the president that does signal that mr.

Obama.

Is prepared to give a little bit.

On his insistence on raising taxes on the wealthiest Americans that jump from a threshold of 250000.

Income income to 250000 and above.

To 400.

Democrats say is a big big move by president whether or not that's gonna actually go over what Republicans particularly in the house is a very very open question and their meeting.

As we speak.

Over on the house side mr.

Boehner and his leadership team are going to go over the details of this latest offer from the administration -- rank and file house Republicans.

The unified Republican leadership is key here because thus far -- had the GOP pretty much behind the speaker on his majority leader Eric Cantor.

His whip Kevin McCarthy and the budget chairman Paul Ryan.

Have all been very very strong -- locked in arms as they've been negotiating with the president giving Boehner the opportunity to go down there.

And say what could be of feasible deal or not.

There is a lot of skepticism among those leaders about.

This proposal from the president they say the tax relief is too much it's still too high at one point two trillion dollars.

And the president's spending reductions -- balanced.

They insist that.

That this mister Boehner and the Republicans have put the possibility of tax increases.

And letting the bush tax cuts expire on the wealthiest on the table but their threshold is a million dollars of income and higher.

And by putting on the table they say the president has to come up with significant spending reductions and that they argue has yet to appear when -- come out of this meeting at 9 o'clock.

House Republicans -- a great deal more to say about it.

We already know they believe that this is a step in the right direction that there's potential for progress but no deal yet bill.

Remember that two years ago thought they had a deal they threw him out the door if they can get a deal it's December 18 -- -- 1213 days ago what would be the timetable then -- Well -- it's virtually past as we speak.

Because of the Christmas holiday the likelihood of -- house Republicans being able to get any sort of a miracle deal together that could pass Muster at the White House and -- Democrats.

His small.

But if that miracle were to happen it's even less likely that the senate would be able to come back after Christmas and get anything done before New Year's and there's been a loss here in the senate the senator from a lot from hot Hawaii Daniel in -- -- at 88 years old passed away yesterday.

That will likely cause something of an interruption of at least a few days ago from memorial services in the next couple of weeks whether it's for the president and most of members of congress to go to Hawaii.

Or perhaps for the late senator to lie in state here at the capitol all of these things would cut cut up more time meaning.

In all likelihood if they can find some sort of an agreement that could actually be considered real.

They probably have to give themselves a little bit over time and -- one of these legislative vehicles and essentially stops the clock and lets them take it into New Year's and that was not the plan that was why they put together what was called sequestered so that they would be forced put -- -- a legislative gun to their heads and make a deal.

It looks like they may actually be giving themselves a little bit of after school extra studied -- hopelessly out that pays off thank you Carl Carl Cameron on the -- -- our coverage thanks there.

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