With President Barack Obama and a majority of lawmakers gone for
Christmas break, one conservative commentator says only a couple of
options remain to reach a compromise before the nation comes up
against the "fiscal cliff."
Despite House Speaker John Boehner wanting to put together a
deal with Democrats, he does not have the backing for his "Plan B"
bill from his fellow Republicans -- even if it means raising taxes
on "millionaires and billionaires" who have been demonized for not
paying their fair share.
Nationally syndicated columnist Phil Kerpen, president of American
Commitment, explains the options that remain with just days
remaining before the deadline.
"If you can't get the House to agree to raise taxes
on anyone, then the Democrats in the Senate and the White House
really only have two choices," he tells OneNewsNow. "They can
either allow taxes to go up for every single American who pays
taxes by doing nothing and letting these automatic tax hikes take
place; or they can move forward with the only bill that's passed
either body -- which is the House bill H.R. 8 -- and stop all of
these tax hikes."
According to Kerpen, the next move is up to Senate Majority
Leader Harry Reid. But the columnist predicts it is unlikely a
compromise will be negotiated by the end of the year.
"This is one of those situations where you could go over the
cliff and then kind of climb your way back up -- because they could
have a deal afterwards that cancels it, and I'm sure that's what
they'll work on in January," he says. "But this is going to be a
tumultuous few weeks here with everybody looking at potentially
steeply higher taxes."
In August the House already passed its "Plan A" (H.R. 8), which
would extend all current tax rates for one year, while committing
to comprehensive tax reform in 2013.
Kerpen concludes saying: "But like it or not, the American
people elected a House of Representatives that is committed to
stopping all tax hikes."