GOP Pulls ‘Plan B’ Bill

    WASHINGTON - NOVEMBER 16:  U.S. President Barack Obama (R) shakes hands with Speaker of the House John Boehner (R-OH) during a meeting with bipartisan group of congressional leaders in the Roosevelt Room of the White House on November 16, 2012 in Washington, DC. Obama and congressional leaders of both parties are meeting to reportedly discuss deficit reduction before the tax increases and automatic spending cuts go into affect in the new year.  (Photo by Olivier Douliery-Pool/Getty Images)

    Olivier Douliery, Pool / Getty Images

    In a fairly stunning turnaround, House Republicans pulled Speaker John Boehner’s back-up tax bill from the floor late Thursday night, admitting that there was not enough support for the plan to pass. “The House did not take up the tax measure today because it did not have sufficient support from our members to pass,” Boehner said in a statement. The bill would have let tax rates rise on the richest Americans, but would have protected other current rates. “Now it is up to the president to work with Senator Reid on legislation to avert the fiscal cliff,” Boehner said. 

    Read it at The New York Times