Which permanently keeps the Bush rates on all income below $1M. Let Reid stonewall and Obama veto it and the dems own any tax increases on the middle class. They never wanted to exempt anyone anyway because in their eyes anyone that actually pays income tax is "rich".
“For weeks the White House said if I moved on rates, that they would make substantial concessions on spending cuts and entitlement reform,” Boehner said in an afternoon news conference. “I did my part, they’ve done nothing.”
But for the time being, all of Boehner’s hope and bluster was just that, as the speaker was hoping his fallback option to avert the fiscal cliff would pass the House on Thursday evening.
Negotiations with the White House are at a standstill because the two sides are divided on how much federal spending should be cut, how much taxes should be raised on the wealthiest Americans and who, exactly, those wealthy Americans are.
House Majority Leader Eric Cantor (R-Va.) had unequivocally - and wrongly, as it turned out - predicted that the Plan B bill would pass.