In a press conference held moments ago, House Speaker John Boehner said GOP leaders are putting forth a plan that would extend tax breaks for all earning less than a million dollars annually. According to Boehner, having a backup plan is the “right course of action.”
“Our hope continues to be to reach an agreement with the president on a balanced approach that averts the fiscal cliff. What we’ve offered meets the definition of balanced but the president is not there yet,” he said. “The White House offer yesterday was essentially $1.3 trillion in new revenues for only $850 in net spending reductions. That’s not balanced in my opinion.”
The speaker said a bill on preventing tax increases will likely be on the House floor this week.