House Speaker John Boehner's office said it presented a fresh counter-offer to President Barack Obama on Tuesday in a bid to avoid crippling tax hikes and spending cuts that will kick in early next year if no deal is reached.
"We sent the White House a counter-offer that would achieve tax and entitlement reform to solve our looming debt crisis and create more American jobs," Boehner spokesman Michael Steel said.
"As the speaker said today, we're still waiting for the White House to identify what spending cuts the president is willing to make as part of the 'balanced approach' he promised the American people.
"The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff."
Boehner's office declined to lay out the specifics of the Republican offer -- their second in month-long negotiations with the White House -- and said it would not be providing any further information.