Posted on 12/18/2012 8:27:27 AM PST by IbJensen
House Republicans, discouraged by the pace of negotiations with the White House, will move their own bill that would hike tax rates on income above $1 million, according to several sources familiar with the plan.
Speaker John Boehner (R-Ohio) told President Barack Obama of his plan last night on a phone call, according to sources.
Boehner will make the argument to House Republicans that tax rates will go up on everyone come Jan. 1. “The question for us is real simple: How do we stop as many of those rate hikes as possible?” Boehner plans to tell House Republicans.
“For weeks, Senate Republicans — and a growing number of you — have been pushing for us to pivot to a ‘Plan B,’” he will say. “I think there’s a better way. But the White House just can’t seem to bring itself to agree to a “balanced” approach, and time is running short. Taxes are going up on everyone on Jan. 1. They’re baked into current law. And we have to stop whatever tax rate increases we can. In the absence of an alternative, as of this morning, a ‘modified Plan B’ is the plan.”
(PHOTOS: 12 Republicans resigned to higher taxes: http://www.politico.com/gallery/2012/12/12-republicans-resigned-to-higher-taxes/000620-008766.html)
House Republicans are expected to move on the bill this week, sources said. It addresses only taxes, not deep spending cuts known as the sequester that slated to take effect in the new year.
Boehner isn’t pulling out of negotiations with the White House to strike a sweeping $2 trillion agreement, but leadership sources say they hope this move prods the administration to move toward them.
As of Monday evening, both sides seemed close to an agreement. Boehner has moved off his insistence that tax rates not rise on the wealthy, and has offered the president $1 trillion in fresh revenue — unthinkable concessions a year ago.
But Obama and Boehner are still a considerable distance apart on taxes. Obama wants to increase tax rates on income over $400,000. Boehner wants the threshold to be set at $1 million; the House GOP proposal would keep the lower Bush-era rates in place for income brackets below that. In essence, Boehner is seeking $1 trillion in revenue and $1 trillion in cuts — but he doesn’t think the president is willing to get there.
(Also on POLITICO: Obama makes new offer to narrow gap on cliff: http://www.politico.com/story/2012/12/obama-fiscal-cliff-85211.html?hp=l1)
“He talked about a ‘balanced’ approach on the campaign trail,” Boehner intends to say. “What the White House offered yesterday — $1.3 trillion in revenue for only $850 billion in spending cuts — cannot be considered balanced. We’re going to keep the door open in hopes the president can find a way to support a balanced approach.”
What fools!
This is Politico spin. The tax increases are automatic and require NO vote.
What he means is that Bohner will pass a separate house bill extending the rates to everyones first <=$1 M.
This is exactly what he should do. Take the issue from O and go home.
Holding the <= $1M hostage to the >$1M is political suicide and accomplishes nothing except making voters hate you even more than they do, and further empowering O
Doesn’t matter, Reid already said this is DOA at the Senate. Time to go over “the cliff”.
There is one thing that happens with foolish notions like we are seeing. Reality. There will be a point when even the most hardcore spendaholics will see its the spending and not the lack of revenue. I am not sure when that day will be but I am sure it will happen sooner than later the way things are going.
You got it backwards. You’re thinking like the cowardly Republicans. For Ubanga to hold 98% of taxpayers hostage because he insists on porking 2% up the rear end is political suicide.
???? Suicide??? Did your TV announce that Romney won the election? This was his #1 issue, his own taxes.
Suicide : “Sorry voters but if anyone making much more than you gets a tax increase then we (the R party) must make sure that you do too. We must make this our stand. Its a princple. I am sure you will understand. This will help you. This will teach O a lesson.”
is great way to get even those who voted for Romney to join Dems in hating (you) Republicans.
Just drive it over he cliff. Obama is asking for $850 billion in cuts over ten years. That $85 billion a year. Bernanke is printing that EVERY month.
This whole process is a drama sham.
Drive over the cliff. Cut the budget. Screw the economy and get this thing over with.
They will cut some deal, get the stock market running overdrive, and the be at war in Syria/Iran my MLK day at the latest.
We are so screwed.
In the end they gave O anything he demanded, the took the vote out of view in shame.
You like seeing O whip the crap out of clueless Rs??
Its real old.
Suicide : "Sorry all you people who get up and go to work every day, but if the top 2% of taxpayers who already pay 70% of all taxes don't pony up even more, then all of you are going to have your taxes raised."
Ubama wasn't elected by people who get up and go to work every day - - he was elected by the moocher class, the eaters; the bums, deadbeats, and parasites who comprise the Democrat party "base". Sure, there's always a handful of ignoramuses who work and pay taxes but still vote Democrat, but don't lump those simpletons in with normal Americans even if it is those mice who put rats over the top in elections from time to time.
Oh please. No it isn’t That’s the same crap ppl were saying before the election that Obama was doing something that was political suicide and would turn ppl against him. They didn’t turn and some Conservatives actually acted surprised
We need a new Party. We need to step out of the echo chamber. If we don’t, we will keep thinking ppl are going to think like us but they never will as long as we remain in a Party that mutes our voices.
We have to go over the fiscal cliff if we are to start bringing America back. There is no other way. It will mean huge sacrifices but without, America will continue to default into a communists dictatorship.
What an embarrassment Boener is!! Someone needs to push him off a cliff.
1) House Republicans listen to this guy and say ‘ taxes on the middle class will go up unless we get a full extension, for all that income above $250K too. We will not extend them without the others. We dont leave the job producers behind. We won the election.”
2) In January taxes go up (assuming it gets that far)
3) Obama gets on TV and Townhalls telling middle class voters that their taxes are going up because Republicans once again are putting ‘the rich’ ahead of them.
4) MSM hounds Republicans asking them if they are happy they ‘raised taxes’ on the middle class
5) House Republicans get flooded in a tidal wave of angry emails and phone calls from those who voted for them.
They try to go home for a visit and there are angry mobs around their house with signs
“I am sorry I voted for you. You raised my taxes you lying #%%$$”, many are white and 50 + obviously not ACORN.
6) The stock Market tanks
7) House Republicans even the most ‘conservative’ go to Bohner and say “WE made a big mistake. We need to cut those taxes (under$250K income) and put this behind us. My voters want to kill me” just as they did with last years FICA.
8) The House quietly passes the extension in secret just as they did FICA last February.
9) Obama signs it declaring that the Rs finally saw reason
10) The stock market recovers some just because the panic is over sand no one knows that the resulting Obama tax increases hurt the stock market because they think house Rs crashed it and O saved it.
11) Obama gets credit for saving the economy. AGAIN.
12) House Republicans dont challenge O again for the next two years. So the Republican party melts down in civil war. Dems bayonette the R wounded.
13) In 2014 election Reid and Pelosi get back the same numbers they got in 2009.
14) January 2015 Congess passes a bill making Obama King. (no more filibuster to stop it) Republicans blame voter fraud.
agreed-
“Just drive it over he cliff. Obama is asking for $850 billion in cuts over ten years. That $85 billion a year. Bernanke is printing that EVERY month.
This whole process is a drama sham.
......They will cut some deal, get the stock market running overdrive, and the be at war in Syria/Iran my MLK day at the latest.”
Yes, Guns and Butter, and attempt to sanitize the killing of many sent off.
The “Banking” (so called “banking”), and insurance (so called “insurance”) counterfeits. False counterfeit MBS based on NO COLLATERAL.
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