News Headline Summary

Representative Flake says leaning towards Republican party Plan B

Says:
- Not enough details yet on Plan B.
- We understand top tax rate will go up.

Update details:

- Plan B refers to the Republicans concession to lower the earnings threshold for increased taxes to USD 1mln per annum, Obama wants that threshold lowered to USD 250,000 per annum. However despite making this concession Boehner says the deal is less than ideal and is seeking a broader compromise in other areas of negotiations.

Print 15:13, 18 Dec 2012 - Economic commentary - Source: Newswires