House Of Representatives, Bush Tax Cuts | featured news

Politico is reporting that one of its sources claims John Boehner has placed tax increases for the wealthy on the table. He has been adamant that Republicans would never agree to a tax increase for anyone. President Obama has said that there would be no agreement to end the chance of falling over the “fiscal cliff”, without increasing taxes on the wealthiest 2 percent.

The House rejected a proposal to allow tax cuts on the wealthy to expire, and instead passed a yearlong extension of current tax rates in an act of political theater.

House Democrats voted not to bring up a tax deal President Obama negotiated with the GOP, raising questions over the president's influence in his own party.

The House of Representatives, in the waning days of Democratic control, passed an extension on Thursday of Bush-era tax cuts for the lower and middle classes in a symbolic vote that would let tax cuts for the wealthiest expire.