Boehner presents Obama with 'fiscal cliff' counter-offer

House Republicans have presented President Barack Obama with a counter-offer on how to resolve the so-called fiscal cliff relying on tax reform instead of rate increases to raise new revenue, The Business Journals reported.

The plan calls for generating $800 billion in revenue by broadening the tax base and eliminating various deductions. It also suggests looking at the $1.2 billion in entitlement reforms and spending cuts proposed last year by Erskine Bowles, a Democrat who co-chaired a deficit…