Republicans Said to Consider Spending Cuts in Bill
House Republican leaders are considering giving members a chance to vote on spending cuts to firm up support for House Speaker John Boehner’s tax measure, said a Republican lawmaker and a congressional aide who spoke on condition of anonymity.
In announcing his proposal yesterday to raise tax rates for income above $1 million, Boehner had said his plan wouldn’t reverse automatic spending cuts set to take effect in January.
Republican leaders are asking rank-and-file members today what they would support in order to pass Boehner’s plan, which he said would be brought up for a vote tomorrow.
Unless Congress acts, more than $600 billion in tax increases and spending cuts will begin next month.
To contact the reporters on this story: Roxana Tiron in Washington at rtiron@bloomberg.net; James Rowley in Washington at jarowley@bloomberg.net
To contact the editor responsible for this story: Jodi Schneider at jschneider50@bloomberg.net
Barack Obama and John Boehner
Saul Loeb/AFP via Getty Images
The House may vote tomorrow on Boehner’s “Plan B,” which would raise tax rates on income over $1 million, rather than the $400,000 threshold the president proposed in his latest offer.
The House may vote tomorrow on Boehner’s “Plan B,” which would raise tax rates on income over $1 million, rather than the $400,000 threshold the president proposed in his latest offer. Photographer: Saul Loeb/AFP via Getty Images
Dec. 19 (Bloomberg) -- Stephen Roach, professor at Yale University, talks about the outlook for U.S. lawmakers to reach an agreement to avert the so-called fiscal cliff of tax increases and spending cuts. Roach also discusses the economies of the U.S. and China and Federal Reserve monetary policy. He speaks with Betty Liu on Bloomberg Television's "In the Loop." (Source: Bloomberg)
Dec. 19 (Bloomberg) -- Jonathan Golub, chief U.S. market strategist at UBS Securities LLC, talks about the so-called U.S. fiscal cliff, the economy and stock market. He speaks with Matt Miller and Trish Regan on Bloomberg Television's "Street Smart." (Source: Bloomberg)
Dec. 19 (Bloomberg) -- U.S. House Minority Leader Nancy Pelosi speaks about House Speaker John Boehner's proposal to avoid the so-called fiscal cliff. Boehner says he is proposing a “Plan B” measure that would include tax increases on income of more than $1 million, while continuing to negotiate with the president. Pelosi speaks at a news conference in Washington. (Source: Bloomberg)
Dec. 19 (Bloomberg) - U.S. House Speaker John Boehner speaks about the status of negotiations aimed at reaching agreement on a deficit reduction package that avoids the so-called fiscal cliff of automatic spending cuts and tax increases. (Source: Bloomberg)
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