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Old 12-20-2012, 01:34 PM   #71
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Default Re: The Fiscal Cliff

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Cantor ~ GOP will have the votes to pass 'Plan B'

The No. 2 House Republican said Thursday that the GOP would have the votes to pass its "Plan B" solution to the fiscal cliff, and urged the Democratic Senate to follow suit.

House Majority Leader Eric Cantor, R-Va., said that Republicans intended to follow through with their vote to pass a pair of bills which would preserve tax rates on income less than $1 million and approve new spending cuts in place of the automatic cuts -- many to defense -- set to take effect on Jan. 1.

Absent a balanced option from the president, this is our nation's best option," Cantor told reporters on Capitol Hill.
"And Senate Democrats should take up both of these measures immediately."

President Barack Obama has promised to veto the legislation; it is virtually dead-on-arrival in the Senate, where Democrats oppose the proposal.

With less than 12 days until the tax hikes and spending cuts which compose the "fiscal cliff" will snap into place, Republicans remain locked in a stalemate with Obama over the extent of the expiring tax rates they should extend, as well as how deep of cuts should be made -- and to which programs.
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