With just a few days left to come up with an agreement to avoid the fiscal cliff, the White House said congressional stupidity was damaging the economy and that an agreement could be reached if Republican leaders don?t get in the way. President Barack Obama cut his Hawaiian vacation short and went back to Washington.
Senate will reconvene on Thursday. House Speaker John Boehner said that he would give House members a 48 hour notice of upcoming vote. This could mean that the soonest the House could consider a bill is on Saturday. It would be two days before the deadline to come up with a compromise or else tax increases and large budget cuts would take effect on January 1.
Speaker Boehner and other GOP leaders said that the House has acted on two bills that would avert the fiscal cliff when enacted. The bills are still awaiting action by Senate. If the Senate doesn?t approve them and send them to the president to be signed into law in the present form, they must be amended and returned to the House.
Senate Majority Leader Harry Reid?s plan is the Democratic counterpart to Boehner?s plan B that failed to get enough support for a vote late week. Boehner left it to the Senate after withdrawing the plan Thursday.
Democrats believe that lower and middle class families should keep their Bush-era tax cuts and allow it to expire for households earning more than $250,000. Republicans said that Americans should not have to pay higher taxes in 2013 but Boehner?s plan would have made those earning more than $1 million to pay higher taxes. Reid?s plan also includes limits to tax deductions to generate more revenue for the federal government.
It seems like Boehner doesn?t have any control over the right wing faction in Congress. Critics have questioned his ability to bring his own party together.
Source: http://www.paydayloansmag.com/white-house-criticizes-congress-stupidity-as-fiscal-cliff-nears/
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