WASHINGTON - With congressional Republicans and the White House still short of a deal for averting the "fiscal cliff," House GOP leaders are trying to rally support for an alternative plan that would prevent tax increases for everyone but those earning over $1 million a year.
Top House Republicans said they were hoping for a Thursday vote on the so-called Plan B, which would prevent New Year's Day tax boosts on more than 99 per cent of taxpayers. Some conservatives were balking because they oppose any tax increases. After they tried Tuesday to whip up support, it was unclear whether the measure could be approved.
Far-reaching tax increases and nearly budget-wide spending cuts will take effect automatically in early January unless lawmakers and President Barack Obama agree to some way of preventing them.
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