In a setback for Speaker John Boehner, House Republicans have pulled their fiscal cliff bill known as “Plan B,” because they didn’t have enough votes for it to pass. The bill would have raised taxes on people making more than $1 million a year. The House bill was going nowhere in the Senate and faced a veto threat from President Barack Obama.
“The House did not take up the tax measure today because it did not have sufficient support from our members to pass,” Boehner said in a Thursday night statement. “Now it is up to the president to work with Senator Reid on legislation to avert the fiscal cliff. The House has already passed legislation to stop all of the January 1 tax rate increases and replace the sequester with responsible spending cuts that will begin to address our nation’s crippling debt. The Senate must now act.”
Source: Politico. Read full article. (link)