Wednesday, December 19, 2012
WASHINGTON (AP) — The White House threatened today to veto House Speaker John Boehner’s backup plan for averting the “fiscal cliff,” saying it was time for Republicans to stop political posturing and continue trying to reach a compromise deficit-cutting package.
Boehner, R-Ohio, proposed his so-called Plan B on Tuesday, a measure that would block tax cuts from being triggered Jan. 1 on everyone but those whose incomes exceed $1 million.
The White House said Boehner’s plan did not raise enough revenue from the country’s top earners, would leave too big a deficit-reduction burden on the middle class and omitted tax breaks used by families and businesses.
“The president urges the Republican leadership to work with us to resolve remaining differences and find a reasonable solution to this situation today instead of engaging in political exercises that increase the possibility that taxes go up on every American,” White House Communications Director Dan Pfeiffer said in a written statement.
Boehner is planning a House vote on his proposal on Thursday, hoping that it would raise pressure on President Barack Obama to make concessions as both sides continue reaching for a bipartisan deal on averting the “fiscal cliff.”
Without an agreement among lawmakers, hundreds of billions of broad tax increases on nearly all taxpayers and budget-wide spending cuts will be triggered in early January.
Boehner spokesman Brendan Buck said White House opposition to the GOP backup plan “is growing more bizarre and irrational by the day.” He said Republicans prefer a deficit-cutting plan that is balanced between tax increases and spending cuts, but Obama has yet to offer such a proposal.