TODAY   |  December 04, 2012

New fiscal cliff pitch from GOP is rejected

The $2.2 trillion proposal floated by House Speaker John Boehner was shot down by the White House, which said Republicans’ rejection of tax hikes for the wealthy and sweeping cuts to popular social programs are unacceptable. NBC’s Chuck Todd reports.

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This content comes from Closed Captioning that was broadcast along with this program.

>>> a new pitch from the gop to avoid the so-called fiscal cliff. nbc's chief white house correspondent chuck todd has the very latest. good morning, chuck.

>> good morning, tamron. 24 hours after republican house speaker declared a near stalemate in the talks towards the fiscal cliff, the so-called fiscal cliff that has to do with expiration on taxes and automatic spending cuts, the republicans put out their proposal to counter the white house bid, and the biggest difference between the two is the republican proposal calls for about $800 billion in tax hikes but does it without raising tax rates . well, the white house , of course, is looking for $1.6 trillion in tax hikes but more importantly it's insisting on raising the top tax rates for the top 2%. the white house declared the republican proposal as unseeniouunseen io ious, we're still at that stalemate that speaker boehner declared. maybe in two weeks things will get