Geithner predicts Republicans will allow higher tax rates
WASHINGTON (Reuters) – President Barack Obama’s top fiscal negotiator pressed Republicans on Sunday to offer specifics on deficit reduction, and predicted they would agree to raise tax rates on the rich to secure a year-end deal to avoid possible economic doom. Treasury Secretary Timothy Geithner said "I can’t promise" that the United States won’t go over a looming "fiscal cliff," triggering automatic tax hikes for most Americans and deep spending cuts in early 2013. He insisted it is up to Republicans. . . .
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