TRY, TRY AGAIN

Boehner’s Fiscal Cliff ‘Plan B’ Stalls

Will hike tax rates on those making more than $1 million per year.

Things are looking worse and worse for that holiday break for Congress. House Speaker John Boehner’s so-called Plan B for avoiding the fiscal cliff is stalled in both houses of Congress on Tuesday—and the White House has already rejected it. Boehner’s plan calls not only to hike tax rates on those making over $1 million per year, but also to extend the current tax rates for the rest of Americans. Boehner’s plan comes amid mounting criticism that Republicans have not offered serious proposals to avoid the looming fiscal cliff, the name given for what will happen should Congress not come up with a deal by Jan. 1 to avoid draconian spending cuts and extend the Bush tax cuts.