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Boehner to push budget 'plan B' while continuing talks

By Bloomberg News

This article was originally published December 18, 2012 at 8:54 a.m. Updated December 18, 2012 at 11:16 a.m.


FILE - In this Dec. 5, 2012, file photo, House Speaker John Boehner of Ohio walks to a closed-door Republican strategy session, Wednesday, Dec. 5, 2012, on Capitol Hill in Washington. Boehner has been caught up in a monumental struggle over taxes and spending aimed at keeping the country from taking a yearend dive over the "fiscal cliff." President Barack Obama is tugging Boehner one way in pursuit of a budget deal, while conservatives yank the other way, some howling that the speaker already is going wobbly on them and turning vindictive against those in his party who dare disagree.

— House Speaker John Boehner will push a budget “plan B” measure that would include tax increases on income of more than $1 million, while continuing to negotiate with President Barack Obama, a Republican aide said.

The plan is consistent with Boehner’s latest offer to the president, according to the aide, who sought anonymity to discuss the private negotiations.

Boehner and Majority Leader Eric Cantor are giving House Republicans an update on the negotiations during a private meeting Tuesday.

In a statement, White House spokesman Jay Carney said Boehner’s “Plan B” approach can’t pass the Senate. And, he said, it does little to address the nation’s fiscal challenges. Carney said the president is willing to continue working with Republicans to keep from going over the "cliff."

On Monday, Obama lowered his tax revenue demand by $200 billion and offered to start tax rate increases at $400,000 in income instead of $250,000, moving closer to a budget deal with Boehner.

Obama’s revised plan would raise $1.2 trillion in taxes in the next decade and cut $1.22 trillion in spending, said a person familiar with the talks. Obama wants a large enough debt ceiling increase for the next two years and would accept a new inflation yardstick that would reduce Social Security cost-of-living increases, said the person, who sought anonymity.

A deal about halfway between the most recent offers could include $1 trillion each in tax increases and spending cuts, and allow tax rates for top earners to rise in 2013.

In exchange, Obama would accept some up-front spending cuts, and other scheduled cuts would be canceled. Congress would pursue broader changes next year against the threat of tax increases and spending cuts in 2014.

Read tomorrow's Arkansas Democrat-Gazette for full details.


Comments on: Boehner to push budget 'plan B' while continuing talks

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TheBatt says... December 18, 2012 at noon

$1 Trillion in tax increases over the next 10 years = $100 Billion per year.
$1 Trillion in spending cuts over the next 10 years (that most of which will never really happen) = $100 Billion per year.

So lets just pretend like any REAL cuts will actually happen... That is a $200 Billion swing each year...

When the current administration is spending an average of $1.3 Trillion per year BEYOND revenue - $1.3TRILLION in deficit spending...

So - instead of $1.3TRILLION a year deficits, the president is thinking (and Boehner) think that $1.1 TRILLION in DEFICIT spending is a "fix"??? Seriously??? And this is all ignoring the rest of the "fiscal cliff" - the massive tax increases that are part of ObamaScare, the looming unemployment and underemployment that will result...which will drive DOWN revenue and increase government spending (like I said - cuts rarely every actually happen).

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HOTDEMN says... December 18, 2012 at 1:11 p.m.

As Faux Newz continues to spin it's web of deceit and spin the Repubs continue to drive our nation into the ground rather than be seen as weak by it's deluded base. They and their leaders CAUSED these deficits by starting 4 unneeded wars and funneling money to their contributers and cronies. Until people like TheBatt realize that their beliefs have been spoon fed to them by criminals nothing will ever change. As long as his kind support the people and policies that are tearing our economy and country to shreds while believing themselves patriots nothing will get better. I bet Mr Batt makes way less than $250,000 a year but he is supporting the elimination of Policeman, Fireman,Teachers,care for the elderly and infirm and critical repairs to our infrastructure just to name a few to ensure tax breaks for people who DO make $250K or more. And his opposition to the Affordable Healthcare Act (his term Obamascare) demonstrates further how ignorant he is being kept by limiting his knowledge by watching hate TV instead of learning the truth about ALL the issues.

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T6 says... December 18, 2012 at 2:16 p.m.

bclem..... But Boehner's plan is the PLAN Nancy Pelosi put forth last year. IT'S NOT GOOD ENOUGH this year? Who are you kidding the Democrats will NOT ACCEPT ANYTHING EXCEPT WHAT THEY WANT, TO BULLY THE REPUBLICANS. You Demwits are stupid enough to believe EVERYTHING that's fed to you.
Bclem... maybe you could tell us why your Noble Peace Prize President has put several thousand TROOPS back into IRAQ, troops on the Syrian border, Obama put troops into Lybia, ALL without CONGRESSIONAL approval. George Bush GOT CONGRESSIONALl approval.
Also Obama is arming Syrian rebels which have openly identified themselves with al-Qaeda. They have openly said, “When We Finish With Assad, We Will Fight the U.S.”, so it’s no secret they are the enemy. Is that not TREASON for President Obama? He also armed the Libyan rebels, the same weapons found their way to Ansar al-Sharia. More than likely the same weapons were used to KILL Amb Chris Stephens, Tyrone Woods and Glen Doherty at Benghazi. TREASON!!!!!!!!!

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