House vote on fiscal cliff ‘plan B’ fails

House vote on fiscal cliff ‘plan B’ fails

House Speaker John Boehner was handed a stunning defeat late Thursday by members of his own party who refused to support his “Plan B” to avoid the year-end “fiscal cliff” that threatens to send the economy in to a recession.

GOP leaders worked intensely Thursday to build support for Boehner’s two-pronged legislative effort to cut spending and extend current tax rates for all but those earning $1 million or more. But the House put off the vote after being unable to persuade enough Republicans to vote for Boehner’s proposal in the face of what was expected to be unanimous opposition from Democrats.

Boehner’s failure to move his alternative plan through the House, as well as the current impasse with President Obama on how to address expiring tax rates and impending spending cuts, has thrown negotiations to avert the “fiscal cliff” in to disarray just 10 days before it hits.

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