Within hours of its being floated publicly, the White House has already rejected House Speaker John Boehner's "Plan B," which would have passed an extension of the Bush tax cuts for income under $1 million a year separately from other deficit-cutting proposals in the fiscal cliff negotiations. Boehner proposed the new plan Tuesday morning, and it got "mixed" reviews from other Republicans, Roll Call reported. President Obama, who was initially seeking to extend the Bush tax cuts for income under $250,000 a year, offered to extend the cuts for income under $400,000. The White House said Boehner's Plan B couldn't pass the Senate. The White House statement said in part:
The parameters of a deal are clear... But [the president] is not willing to accept a deal that doesn’t ask enough of the very wealthiest in taxes and instead shifts the burden to the middle class and seniors. The Speaker’s “Plan B” approach doesn’t meet this test because it can’t pass the Senate and therefore will not protect middle class families, and does little to address our fiscal challenges with zero spending cuts.
This article is from the archive of our partner The Wire.