Panic Sets in After Boehner Aborts "Plan B" Proposal
Posted at 10:15 a.m. on Dec. 21, 2012
House Speaker John Boehner’s (R-OH) alternative “fiscal cliff” proposal failed last night without even coming to a vote due to lack of support among House Republicans, “throwing Washington’s high-stakes budget negotiations into disarray and bringing the prospect of tumbling over the fiscal cliff into sudden focus,” according to the Wall Street Journal.
“After pulling his bill without taking a formal vote, Mr. Boehner unexpectedly disbanded the House until after Christmas… In announcing he had canceled the vote, Mr. Boehner put the onus on the president and Senate Majority Leader Harry Reid (D., Nev.) to take the next step.”
Matthew Yglesias thinks this makes the likelihood of a deal more likely.
Damian Paletta reports that CEOs are becoming increasingly concerned that a deal won’t be reached before the end of the year.