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Boehner Drops ‘Plan B’

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House Speaker John Boehner scrapped a plan to allow higher tax rates on annual income above $1 million, yielding to anti-tax resistance within his own party and throwing already-stalled budget talks deeper into turmoil.

He will hold a news conference today at 10 a.m. Washington time, his office said in a statement.

Boehner said last night that President Barack Obama and Senate Majority Leader Harry Reid should come up with legislation to avoid more than $600 billion in tax-and-spending changes that would probably cause a recession in the first half of 2013 if left in place. Until Dec. 17, Obama and Boehner had been edging closer to a deal that would have included $1 trillion each in tax increases and spending cuts.

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So, we are back were we were in the last two years: Congress won't do anything because the majority can't get its act together. Wonderful.

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One big stalemate

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Just as well. Wasn't Obama going to veto this anyway?

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Just as well. Wasn't Obama going to veto this anyway?

Hardly the point, the point is that he cannot even get the Republicans to agree on anything, which means that if they can't get their act together there won't be a compromise.

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