No ‘fiscal cliff’ deal without higher rates, Geithner says

(CNN) — The Obama administration will entertain any Republican plans to avoid a so-called “fiscal cliff” at year’s end, but Treasury Secretary Timothy Geithner says the Bush-era tax cuts for top incomes must go.

Speaking on CNN’s “State of the Union” and other Sunday talk shows, Geithner said he’s optimistic that the administration can reach a deal with Congress to avert a one-two punch budget analysts say could throw the U.S. economy back into a recession. But he added, “What we’re not going to do is extend those tax cuts for the wealthiest Americans.”  Read more

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