Speaker John Boehner (R-Ohio) today plans to hold a vote in the House on a bill that would lock tax rates on households with less than $1 million in income - his so-called “Plan B” legislation. It’s not clear if Rep. Boehner has the votes to pass the bill, and its drawing the ire of some members of the GOP because it would signal a tax hike for high-income earners. And for the White House, it’s a non-starter. Also on the Congressional agenda: hearings on the attack on the U.S. Consulate in Benghazi and a memorial to the late Sen. Daniel Inouye (D-Hawaii), who will lie in state in the Capitol Rotunda. Tomorrow, Congress will gather for Inouye’s funeral at the National Cathedral.
Then comes the weekend, Monday’s Christmas Eve, and, well, you get the point. Time is running out to avert the fiscal cliff, and now there appears to be a stalemate between President Obama and Speaker Boehner, despite concessions from the President that he said were the right thing for the country in the wake of the tragedy in Connecticut.
We’re 11 days out - and given the timetable, we’re going to get much closer to the cliff before a possible deal is announced. Is it time to pack the parachute? We’ll discuss that and more when we see you at noon ET on NOW.
Josh Tyrangiel, Editor, Bloomberg Businessweek (@tyrangiel)
Megan McArdle, Special Correspondent, Newsweek/Daily Beast (@asymmetricinfo)
Sam Sifton, The New York Times/Author, “Thanksgiving: How to Cook It Well” (@samsifton)
Glenn Thrush, Sr. White House Reporter, POLITICO (@glennthrush)
P.J. Crowley, Fmr. Asst. Sec. of State/Fmr. State Dept. Spokesman (@pjcrowley) [DC NC]
Luke Russert, NBC News (@lukerussert)