« Obama uses campaign email to send a message on shooting | Main | Obama, Democrats blast Speaker's "Plan B" »

December 18, 2012

Boehner will offer Plan B on taxes

House Speaker John Boehner will offer Republicans a "Plan B" Tuesday that would likely have rates go up only for millionaires.

Other Bush-era tax rates would stay the same.

Chances are the bill would easily pass the House of Representatives, where Republicans have a 241-191 majority. The Senate, run by Democrats, is also likely to be sympathetic.

The "modified Plan B," as Boehner plans to call it, would not preclude a bigger deal. He and President Barack Obama have been negotiating on a broad package, and will continue to do so.

But time is running out. The Bush-era cuts expire in two weeks, and the current Congress goes out of session Jan. 3.

Boehner, according to congressoinal sources, "plans to announce that – given the short time before America goes over the ‘fiscal cliff’ and the White House failure, thus far, to produce a balanced offer – the House will open up a second track and begin work on a ‘Plan B’ to stop most of the tax hikes on the American people scheduled for January 1."

 Among the remarks Boehner is expected to make:

"Current law has tax rates going up on everyone January 1.  The question for us is real simple: How do we stop as many of those rate hikes as possible? And can we ensure the president keeps his promise to the American people to make real spending cuts along with it that will actually address the problem of our debt?

 "For weeks, Senate Republicans -- and a growing number of you -- have been pushing for us to pivot to a “Plan B." 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 January 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. 

 "At the same time we're moving on "Plan B," we're leaving the door wide open for something better.  And I have been clear about that with the president.  Plan B is Plan B for a reason.  It's a less-than-ideal outcome.  I've always believed we can do better. 

 "During the campaign, the president promised the American people a “balanced” approach to the debt – revenues and spending cuts.  And what I offered the president is the definition of balance: a trillion in revenue, and a trillion in spending cuts.  Instead of letting tax rates rise on Americans making $250,000 or more, the rates would rise only on those making a million and up.  Instead of getting zero spending cuts, we’d get a trillion in spending cuts, mostly from entitlement programs.  Most importantly, we’d lock in a process for tax reform and entitlement reform in 2013 – the two big goals we’ve talked about for years.

 "The president hasn't been able to get there.  He talked about a "balanced" approach on the campaign trail.  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."

TrackBack

TrackBack URL for this entry:
http://www.typepad.com/services/trackback/6a00d83451c64169e2017ee660c305970d

Listed below are links to weblogs that reference Boehner will offer Plan B on taxes:

Comments

Feed You can follow this conversation by subscribing to the comment feed for this post.

docb

This is total BS,...Boneher does not have his caucus under control...the bats in the belfry are loose..

This is a return to repub obstruction to protect the wealthy 2% and nothingelse..


Small businesses my rear..he is talking about Kocks and Perry, and the other corporate vultures...They are not wanting to lose their jobs. and the are liars..that created the cliff/curb!
You repubs caused it and you own it! The spending is done by Congress NOT THE PRESIDENT!...but they think we do not know it!

The comments to this entry are closed.

ABOUT THIS BLOG

"Planet Washington" covers politics and government. It is written by journalists in McClatchy's Washington Bureau.

Send a story suggestion or news tip.

Enter your email address:

Delivered by FeedBurner

THIS MONTH

    Sun Mon Tue Wed Thu Fri Sat
          1 2 3 4
    5 6 7 8 9 10 11
    12 13 14 15 16 17 18
    19 20 21 22 23 24 25
    26 27 28 29 30 31  

BLOGROLL