House GOP Say Plan B will Pass
The House is preparing for a vote on the alternate plan known as Plan B that will allow the nation to avoid the large tax increases on all income earners. House Majority Leader Eric Cantor of Virginia said he is confident that they will get enough vote for the plan to pass.
Plan B is a scaled down measure that would extend tax rates for everyone except for those earning $1 million and more. It is supported by the Republicans and will be put on vote just days after talks between President Barack Obama and Speaker John Boehner progressed a bit.
Both sides of the negotiating table offered concessions to move toward an agreement but aides reported that Speaker Boehner didn’t have enough support in his party to pass his proposal that included $1 trillion worth of revenue increases. Plan B would increase taxes on millionaires, which is something that Democrats also want. But it didn’t go as far as higher tax rates for more income earners.
President Obama’s latest offer would increase the tax rate to 39.6 percent on those earning more than $400,000, which is a compromise on his previous demand that taxes should be increased on households earning more than $250,000.
Boehner said that he is doing his part be offering Plan B so that taxes don’t increase on millions of Americans in 2013. He said that the ball will now be in the Senate Democrats and the White House’s hands.
Cantor said that they have enough votes to pass Plan B in Congress but some Republicans still have reservations about it because it would increase taxes on around 400,000 families or 0.2 percent of the population of the nation.
Anti-tax crusader Grover Norquist said that Boehner’s plan doesn’t increase taxes. But other conservative groups, such as the Heritage Foundation and Freedom Works, are asking Republicans to vote against Plan B.