White House Rejects Boehner's Backup Plan

From cnbc.com

The White House rejected a House GOP proposal Tuesday to extend the Bush tax cuts for those making up to $1 million, saying it doesn't go far enough and wouldn't pass the Senate anyway. At a news conference with other GOP leaders, House Speaker John Boehner said he still hopes to reach a "balanced" agreement with the Obama administration on the fiscal cliff. But he said he expects the Plan B proposal to come to the House floor later this week. "I believe it's important to protect as many American tax payers as we can," Boehner told reporters. But the White House said the plan didn't ask enough of the wealthiest ... (full story)