Boehner Bails on Plan B

By: Thursday December 20, 2012 5:46 pm

I just finished laughing from this spectacle on the House floor today. The House leadership tried desperately to pass “Plan B,” the main part of which was an extension of the Bush tax cuts on the first $1 million of income. In truth, all of the other giveaways in it would actually result in lower [...]

Plan B Morphs Into a Conservative Wish List

By: Thursday December 20, 2012 10:45 am

House Republicans will wait until tonight to pass “Plan B,” and while I think ultimately it will pass, the reason they’re waiting so long is that they have to figure out what to put into it to get conservative votes. Erick Son of Erick has a whip list of 34 no votes and 12 leaners, [...]

Boehner’s Plan B Also Cuts Taxes on Rich, Raises Them on Poor

By: Thursday December 20, 2012 6:25 am

John Boehner may not even have the votes for today’s “Plan B,” a bill that effectively raises taxes on people making over $1 million a year. He was seen gladhanding on the House floor last night, whipping votes for his side. He can only lose 24 votes to reach 217 (there are a couple vacancies [...]

Boehner Delivers Plan B Ultimatum

By: Wednesday December 19, 2012 12:33 pm

John Boehner just gave a “press conference” that clocked in at under a minute, where he took no questions and basically said that Democrats could either pass his “Plan B” proposal, which extends Bush-era tax rates on the first $1 million of income and does basically nothing else, or “be responsible for the largest tax [...]

Obama Proud of His Fiscal Slope Offer, For Some Reason

By: Wednesday December 19, 2012 10:50 am

For some reason, liberals are agonized by the fact that a Presidential press conference about gun safety legislation devolved into questions about the fiscal slope. As if this has never happened before, or that reporters are Constitutionally obligated to stay on topic. Or that the fisal policy of the world’s largest economy shouldn’t stay in [...]

Learned Behavior: Obama’s Backtrack on Tax Rates, Debt Limit Empowered Republicans

By: Wednesday December 19, 2012 7:45 am

The White House announced they would veto “Plan B,” John Boehner’s gambit to pass a bill extending the Bush-era tax rtes for all earners on the first $1 million of income. And Nancy Pelosi said that Boehner had better have 218 votes for such a bill, since House Democrats won’t provide any. Of course, Boehner [...]

Boehner Trying to Push Plan B Over the Counter

By: Tuesday December 18, 2012 10:22 am

I guess the good news about the state of the fiscal slope negotiations is that nobody seems to like what’s on offer. Dick Durbin, seen as close to the President, just rejected including the chained CPI for Social Security benefits in a final deal. That rejection came even faster than the rejection of raising the [...]

Obama’s Latest Fiscal Slope Offer: I’m Missing the Part Where Republicans Give Up Something

By: Tuesday December 18, 2012 6:00 am

The headlines here is that the Obama Administration narrowed the demand they maintained for four years, for tax rates to increase above $250,000, and they would agree to a benefit cut for Social Security and $400 billion in unspecified Medicare cuts, and in exchange they would mostly extend current law on a few fronts (but not all) and get an unspecified amount, no more than $50 billion, in infrastructure spending.

Boehner in Bargaining Phase: Calls for Millionaire’s Bracket

By: Sunday December 16, 2012 9:31 am

House Speaker John Boehner’s latest offer sheet to the President in the fiscal slope negotiations includes an increase in tax rates on people earning $1 million a year, the first time that the Republican leader has proposed any tax rate hike. The White House, seeking rises on tax rates above $250,000, rejected the offer. Boehner [...]

A Recap on the State of Play on the Fiscal Slope

By: Friday December 14, 2012 7:45 am

The President and Speaker Boehner met last night about the fiscal slope, but only for less than an hour. Meanwhile, White House Press Secretary Jay Carney blasted Boehner for what he described as “fantasy economics” right before the meeting. The talks are going nowhere because all the players know what will happen. The White House [...]

CRS Resurrects Report Showing No Correlation Between Low Tax Rates on the Wealthy and Economic Growth

By: Friday December 14, 2012 6:14 am

A couple months ago, under pressure from Republicans, the Congressional Research Service, basically the think tank of Congress, took down a study on tax rates for the rich and the economy that rebutted a key GOP argument, that tax cuts at the top spurred economic growth. It didn’t matter that the Congressional Budget Office found [...]

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