THE DAILY NEWS
In a Wednesday afternoon press conference that lasted under a minute, House Speaker John Boehner said President Obama should support his plan to avoid the fiscal cliff or “be responsible for the largest tax increase in American history.”
Optimistic despite a tightening deadline, President Barack Obama said Wednesday he and House Speaker John Boehner are “pretty close” to a grand fiscal deal to avoid a first-of-the-year shock to the economy, but that congressional Republicans “keep on finding ways to say no as opposed to finding ways to say yes.”
Obama cast a resolution to the “fiscal cliff” as a matter of political will. He said in the aftermath of the massacre of school children in Connecticut
, the nation deserves a compromise by its political leaders
“If this past week has done anything, it should just give us some perspective,” he said. And he urged lawmakers to “peel off the partisan war paint” and strike a deal.
Obama spoke to reporters at the White House
after announcing an administration-wide response to Friday’s shooting at an elementary school
in Newtown that killed 20 first-graders and six adults.
His comments came shortly after the White House threatened to veto Boehner’s backup plan for averting the “fiscal cliff.” Boehner’s measure, a so-called Plan B
, would block tax increases from being triggered Jan. 1 on everyone but those whose incomes exceed $1 million. …Continued.
Read more: http://www.nydailynews.com/news/politics/obama-grand-fiscal-cliff-deal-reach-article-1.1223691#ixzz2FdxfFssc
218 Votes Needed in House
Before voting tonight on his “fiscal cliff” Plan “B” Speaker John Boehner ended today’s session. Some speculate that he didn’t have the 218 votes needed for passage. Hmmm.
Boehner moves to Plan B
By Erik Wasson
Speaker John Boehner told his conference on Tuesday he will move to a Plan B in fiscal cliff talks with the White House that would raise tax rates on annual income above $1 million.
Boehner (R-Ohio) announced the plan to his conference behind closed doors after a flurry of negotiations with President Obama that made it appear the two sides were moving closer to a deal.
Boehner is not cutting off talks with Obama and told members his “Plan B” is less than ideal.
But he told members that with time dwindling before massive tax increases on all taxpayers occur in January, the House must also have a back-up plan.
Read the story here.
By NBC’s Frank Thorp
House Republican leadership considers a new proposal from the White House to avoid the so-called fiscal cliff “a small step in the right direction” but aides say that “there are still substantive issues that are unresolved.”
The lack of an outright rejection of the White House’s most recent proposal is noteworthy, hinting that both sides may be willing to come to an agreement with just 13 days until the New Year.
The reaction comes after the White House proposed Monday what they call a $2.4 trillion dollar deficit reduction package, including $1.2 trillion in new revenues and $1.22 trillion in spending reductions.
Included in the revenue increases is the expiration of the Bush-era tax rates for incomes of $400,000 and more, marking the first time the White House has moved on their stance of raising rates on incomes of $250,000 and more. The $1.2 trillion in increased revenue is also down from the $1.4 trillion in new revenues the White House included in their last proposal. FULL ARTICLE