Page 14 - Spending Reduction News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Leader selling plan b. >> we protect 99.81% of american taxpayers from a tax increase in these very difficult economic times. we hope that the senate will take this bill up along with the spending reduction act and get the job done in lieu of or absent any kind of agreement coming from the white house. >> reporter: i should point out we expect to hear from speaker john boehner is about an hour or so. it'll be interesting to listen to his tone. but other leading republicans i've spoken with today say bottom line we're less than two weeks from going over the fiscal cliff, and so they felt like i...

Bringing this goal forward. together, with our vote today, to extend permanent tax relief in the middle class for the middle class and small businesses, we house republicans are taking concrete actions to avoid the fiscal cliff. absent a balanced offer from the president, this is our nation's best option and senate democrats should take up both of these measures immediately and the president has a decision to make. he can support these measures or be responsible for reckless spending and the largest tax hike in american history. i'll take some questions. yes? >> do you think you have the votes...

[ inaudible ] >> the nation faces the largest tax increase in history come january 1, 2013. this bill is a bill that provides permanent tax relief for taxpayers earning $1 million and under. we protect 99.81% of american taxpayers from a tax increase in these very difficult economic times. we hope that the senate will take this bill up along with the spending reduction act and get the job done in lieu of or absent any kind of agreement coming from the white house. we are again, taking concrete actions to avoid the fiscal cliff. >> the house leader -- house majority leader eric cantor taking qu...

Going to cave in at all on higher taxes, let it happen at the same time. we pass a bill, higher taxes, a lot more spending reduction, and it goes in effect in june when the spending reductions are done. we're not going to take it on the come, we're going to get it when it happens together. >> sean: if they do that, you know and i know the spending cuts aren't coming. what's frustrating to me. speaker boehner co-oped obama's language with raising taxes on the rich. i'm saying, wait a minute, there are things you can do. i thought there was a good piece in the "washington post" today, laying out...

Most republicans and democrats do. i think it's time for the president, he knows that there's a growing body of folks willing to look at the rate on the top 2% but that's only -- could be $400 billion, it made be 800 billion-dollar and many of us are beginning to see we could end up with a lesser revenue increase by agreeing to that. the shift in focus and entitlements is where we need to go. it's a shame we're not sitting down and solving this but republicans know that they have the debt ceiling that's coming up around the corner. and the leverage will shift as soon as we get beyond this issu...