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Plan B looks like a “take it or leave it” offer from the GOP. Representative Pat Tiberi (R-Ohio) has said that if the bill fails in the Senate, “that’s not our problem. We can’t be held responsible for what the Senate does.” Having conceded to the tax hike, Republicans seem ready to wash their hands of the whole revenue discussion.
Turning to spending cuts, their area of expertise, Cantor announced that he was sponsoring a companion bill to Plan B that addressed some of the unattractive automatic spending cuts set to take place as part of the cliff. Particularly, it shifts defense budget cuts onto domestic programs.
“We are committed in the house, as you know, to address the underlying problem, which is the spending,” he told reporters. Combined the Republicans look like they are pushing ahead with what they believe is a “good-enough-for-now” solution to the fiscal cliff — or, at least, enough of a solution to avoid short-term disaster. It’s got a little of this, a little of that, and no one’s happy about it, but it might just be crazy enough to work.
But Plan B has little, if any, hope of survival. Senate Majority Leader Harry Reid (D-Nevada) has all but promised that plan won’t get passed him. Obama has threatened to veto the measure should it make it to his desk. Democrats are not expected to pony up any support, seeking more concessions…
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