WASHINGTON (AP) — The Republican-controlled House pushed ahead Thursday with a bill that would raise taxes on people earning over $1 million a year as hopes faded for a pre-Christmas deal between President Barack Obama and Speaker John Boehner to avert the so-called "fiscal cliff."
Senate Majority Leader Harry Reid, D-Nev., said lawmakers would return to the Capitol on the Thursday after the holiday as a grand bargain to avoid the automatic tax hikes and spending cuts proved elusive.
Across the Capitol, House Majority Leader Eric Cantor, R-Va., said the GOP has the votes for a bill, dubbed "Plan B" by Boehner, aimed at upping the year-end pressure on Capitol Hill Democrats and Obama.
"We, as Republicans, have taken concrete actions to avoid the fiscal cliff," Cantor insisted at a news conference. He expressed confidence the GOP leadership will have enough votes to pass the bill.
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