President Barack Obama has changed his strategy regarding the “fiscal cliff” crisis which looms only days ahead now. Many middle class Americans face a tax hike beginning in January 2013 if no deal is reached by Dec. 31 which is passed by both the Senate and the House of Representatives.
Republican Speaker of the House John Boehner and the President have been negotiating on a one-to-one basis in a series of meetings which hit a brick wall before Christmas, according to sources inside the Beltway.
The Ohio Congressman made a last ditch attempt to persuade fellow Republicans in the House to approve a deal which raise taxes on only those earning a million dollars or more annually beginning in 2013. Boehner’s attempt to persuade his own caucus to support his plan failed, and he was forced to withdraw from his announced intention to call for a vote.
Reports from Washington today indicate President Obama will now change his strategy to focusing on the Senate and Majority Leader Harry Reid.
The exact details of this last minute attempt to prevent a tax hike on middle class families has not been publicly announced by either President Obama or Senator Reid as of today.
However, sources say that it is possible the President would consider coming off his original demand that taxes be increased on everyone earning more than $250,000 a year. Pundits on cable news channels have theorized Obama may be willing to compromise by raising taxes on those making more than $400,000 today.
In any event, the President is reportedly headed back to the nation’s capital from Hawaii earlier than planned in an attempt to hand the ball off to Nevada Senator Reid to see if the Senate can pass a bill. The Senate is scheduled to be back in session tomorrow (Thursday).
Boehner reportedly has a conference call today (Wednesday) regarding when he will call the House of Representatives back into session. Members of the House are currently on Christmas vacation.
One fact is certain. No deal can be finalized until the Senate and House pass it, and the President signs it into law.
Most concerned are probably those households who make in the $40,000 to $50,000 range which is reportedly the average, according to some surveys across America. A tax hike for these middle class families will be painful.
Will Washington respond?
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