At a lunch meeting today, VP Biden said that while the Obama administration is firm that tax rates for those in the upper bracket must go up, how high that rate goes is â€œnegotiable.â€
â€˜There are two irreducible minimum requirements for us,â€™ Biden said at a lunch with Americans who would be affected by the fiscal cliff. â€˜The top brackets have to go up â€“ this is not a negotiable issue; theoretically we can negotiate how far up. But we think it should go â€“ the top rate should go to 39.6%.â€™
Buzzfeed notes that this is the â€œfirst official acknowledgement by the White House that they are not demanding rates rise to the Clinton-era level.â€
Thereâ€™s about three weeks left for flexibility, negotiating and compromising. And thatâ€™s counting the holidays.
(Joe Biden via WhiteHouse.gov)