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Incorrect PIN farmaciaanalerma.es Here’s what happened when Obama tried to negotiate leading up to the fiscal cliff. The Bush tax cuts were set to expire at the end of 2012 at the same time as some automatic spending cuts were scheduled to kick in. Obama had just won reelection in part by promising to raise taxes on individuals making over $200,000 a year. Boehner and the House Republicans, who lost seats in 2012, at first refused to allow any tax increases, but Boehner eventually indicated that he’d allow increases for people making over $1 million a year. Obama, trying to reach a compromise, broke his campaign promise and indicated to Boehner that he’d agree to a threshold of $400,000 a year. At that point, Boehner broke off negotiations and introduced a bill preserving the Bush tax cuts for everyone making less than $1 million. The bill failed to gain enough Republican support, it was pulled before it could be voted on, and Boehner recessed the House for the holidays.
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