Posted: Dec 20, 2012 9:48 AM
Updated: Dec 20, 2012 9:48 AM
Source: Associated Press
WASHINGTON- Despite a veto-threat, House Republicans are set to vote today on what Speaker John Boehner is calling his "Plan B."
It's his alternative to an agreement to prevent across-the-board tax increases and spending cuts that would begin next month.
President Barack Obama says Republicans should "peel off the war paint" and take the deal he's offering.
An independent analysis says taxpayers making more than $1 million would get hit with tax increases averaging $100,000 next year under Boehner's alternative tax bill.
The Tax Policy Center says some low-income people would get smaller tax increases because the plan would let expire several tax cuts first enacted as part of President Barack Obama's 2009 economic stimulus package.