[h=3]By JANET HOOK And COREY BOLES[/h]WASHINGTON—House Speaker John Boehner decided to advance a backup plan to avoid the so-called fiscal cliff, a strategy for averting a year-end tax increase if his negotiations with President Barack Obama break down.
The speaker's "Plan B," which was announced at a closed-door meeting of the House Republican Conference Tuesday morning, was immediately rejected by the White House. Mr. Boehner (R., Ohio) told lawmakers that the backup plan would be legislation extending current income-tax rates for all people earning $1 million or less a year, mirroring the latest offer from Republicans to the White House over the weekend.
House Speaker John Boehner (R., Ohio) addresses the media in a press conference about the 'fiscal cliff,' in which he says while he is hopeful for a deal with the White House, he must 'move to plan B.' Photo: Getty Images.
The speaker's "Plan B," which was announced at a closed-door meeting of the House Republican Conference Tuesday morning, was immediately rejected by the White House. Mr. Boehner (R., Ohio) told lawmakers that the backup plan would be legislation extending current income-tax rates for all people earning $1 million or less a year, mirroring the latest offer from Republicans to the White House over the weekend.
House Speaker John Boehner (R., Ohio) addresses the media in a press conference about the 'fiscal cliff,' in which he says while he is hopeful for a deal with the White House, he must 'move to plan B.' Photo: Getty Images.