(Image source: The New York Times)

BY CHRISTINA HARTMAN

 

UPDATE: Just before the House vote Thursday night, it called for an unexpected recess to whip up support for the bill.


Thursday evening The House votes on a measure that everyone is watching but no one expects to go anywhere.

“Plan B” as it’s called, is House Speaker John Boehner’s alternative plan to avoid across-the-board tax hikes kicking in once the Bush-era tax cuts expire. (VIDEO VIA WNBC)

Thursday morning House Majority Leader Eric Cantor told reporters Republicans DO have the votes to pass their plan.

“This is our nation’s best option.”

Plan B would:
- Extend tax cuts for income under $1 million
- Allow tax rate hikes for income over $1 million

That was something of a concession in itself — because for the longest time Republicans refused to allow ANYONE’S taxes to go up. Meanwhile, President Obama demanded rates go up for those families making more than $250,000 a year.

Earlier this week President Obama upped that cut-off to $400,000 — closer to Boehner’s plan — but both sides remained at an impasse.

OBAMA: “I have gone at least halfway.”

And the White House says the fact taxes are only going up on those making over $1 million under Boehner’s plan makes “Plan B” a bad option for middle class families.

White House Communications Director Dan Pfeiffer tweeted this infographic, saying 25 million families would see an additional $1,000 on their tax bills under the Boehner plan.

That obviously isn’t how Speaker Boehner would characterize it. Tax rates were going up for EVERYONE on January 1st, so when he announced the plan, Boehner said:

BOEHNER, VIA FOX NEWS: “...it’s important that we protect as many American taxpayers as we can.”

Not that it ever really mattered how the Plan B vote turned out in the House. The White House has already said it is going to veto the bill.  

And before it could even get there, Senate Democrats have already said they won’t take it up.

If lawmakers don’t come up with a deal by the end of the year, both spending cuts and tax hikes will kick in. Boehner’s Plan B doesn’t address the spending cuts part — just the tax hike concerns.

House GOP Moves Ahead With Boehner's 'Plan B'

by Christina Hartman
0
Transcript
Dec 20, 2012

House GOP Moves Ahead With Boehner's 'Plan B'

(Image source: The New York Times)

BY CHRISTINA HARTMAN

 

UPDATE: Just before the House vote Thursday night, it called for an unexpected recess to whip up support for the bill.


Thursday evening The House votes on a measure that everyone is watching but no one expects to go anywhere.

“Plan B” as it’s called, is House Speaker John Boehner’s alternative plan to avoid across-the-board tax hikes kicking in once the Bush-era tax cuts expire. (VIDEO VIA WNBC)

Thursday morning House Majority Leader Eric Cantor told reporters Republicans DO have the votes to pass their plan.

“This is our nation’s best option.”

Plan B would:
- Extend tax cuts for income under $1 million
- Allow tax rate hikes for income over $1 million

That was something of a concession in itself — because for the longest time Republicans refused to allow ANYONE’S taxes to go up. Meanwhile, President Obama demanded rates go up for those families making more than $250,000 a year.

Earlier this week President Obama upped that cut-off to $400,000 — closer to Boehner’s plan — but both sides remained at an impasse.

OBAMA: “I have gone at least halfway.”

And the White House says the fact taxes are only going up on those making over $1 million under Boehner’s plan makes “Plan B” a bad option for middle class families.

White House Communications Director Dan Pfeiffer tweeted this infographic, saying 25 million families would see an additional $1,000 on their tax bills under the Boehner plan.

That obviously isn’t how Speaker Boehner would characterize it. Tax rates were going up for EVERYONE on January 1st, so when he announced the plan, Boehner said:

BOEHNER, VIA FOX NEWS: “...it’s important that we protect as many American taxpayers as we can.”

Not that it ever really mattered how the Plan B vote turned out in the House. The White House has already said it is going to veto the bill.  

And before it could even get there, Senate Democrats have already said they won’t take it up.

If lawmakers don’t come up with a deal by the end of the year, both spending cuts and tax hikes will kick in. Boehner’s Plan B doesn’t address the spending cuts part — just the tax hike concerns.

View More
Comments
Newsy
www1