Political Headlines December 26, 2012: Fiscal Cliff Deal in Harry Reid’s Court?

POLITICAL HEADLINES

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OBAMA PRESIDENCY & THE 112TH CONGRESS:

THE HEADLINES….

Fiscal Cliff Deal in Harry Reid’s Court?

Source: ABC News Radio, 12-26-12

Alex Wong/Getty Images

With President Obama and the Senate headed back to Washington, the impetus is on Senate Majority Leader Harry Reid to come up with a new plan to avoid the fiscal cliff on Jan. 1, when a set of automatic budget cuts and tax increases will take hold if Democrats and Republicans fail to  come together on a deal.

Reid’s plan would serve as a Democratic counterpart to House Speaker John Boehner’s plan B, which failed to gain enough support for a vote last week. Boehner left the ball in the Senate’s court after withdrawing his plan Thursday….READ MORE 

The House has acted on two bills which collectively would avert the entire fiscal cliff if enacted.  Those bills await action by the Senate.  If the Senate will not approve and send them to the president to be signed into law in their current form, they must be amended and returned to the House.  Once this has occurred, the House will then consider whether to accept the bills as amended, or to send them back to the Senate with additional amendments.  The House will take this action on whatever the Senate can pass, but the Senate first must act.  The lines of communication remain open, and we will continue to work with our colleagues to avert the largest tax hike in American history, and to address the underlying problem, which is spending.

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