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ECONOMICS

GOP Pulls ‘Plan B’ Bill

Following a lack of support.

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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

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