The Energy Report - Give a Little Bit
Oil prices are back on the rise as it appears that both sides of the fiscal cliff negotiations are willing to give a little bit. Obama met House Speaker John Boehner somewhere in the middle as the President relented on his demand to raise taxes on individuals earning more than $200,000 and families making more than $250,000 and is now offering to raise it to those making $400,000 and more. That comes on the day after the Speaker Boehner offer included $1 trillion in higher tax revenue over 10 years and to raise taxes on incomes over $1 million and a one-year extension of the nation's borrowing limit with the requirement that the president accept $1 trillion in spending cuts.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.