U.S. government won't fall apart on sequester day of reckoning. Fiscal cliff: Senate bill has $620B in tax rises and $15B in spending cuts as House Republicans voice opposition. By Toby Harnden In Washington and Michael Zennie Published: 17:22 GMT, 1 January 2013 | Updated: 22:34 GMT, 1 January 2013 The fiscal cliff deal passed by the U.S. Senate would raise taxes by $41 for every $1 cut from the budget, the non-partisan Congressional Budget Office has revealed. Republicans in the House of Representatives, where they are in the majority, are so dismayed about the failure to address spending cuts in the bill (which postpones them until the end of February) are indicating they will not vote for it in its current form.
Representative Eric Cantor, the number two Republican leader in the House, said he opposed the bill, indicating a potential split with John Boehner, the Speaker of the House. Opposition from House Republicans threatens to imperil the compromise deal that won overwhelming bipartisan backing in the Senate in a vote held just a few hours into the New Year. Michigan Republican Rep Justin Amash tweeted: 'Senate gave middle finger to everyone in America. U.S. Fiscal cliff deal: Republicans 'surrender' on tax cuts and Obama heads back to restart Hawaii vacation. Final vote by House lawmakers was 257-167Tax hike for Americans making more than $400,000Critics attack Republicans for giving in to tax hikes for the wealthyBiggest tax hike in four decades, raising $620billion in new revenueObama warns there is still much work to be done By Thomas Durante and Reuters Reporter Published: 04:06 GMT, 2 January 2013 | Updated: 21:47 GMT, 2 January 2013 President Barack Obama jetted back to Hawaii last night to continue his holiday vacation, just hours after Congress passed a deal to avoid the fiscal cliff.
The consensus among political observers is that Obama leaves Washington victorious after winning $620billion in tax hikes from Republicans in exchange for minimal spending cuts. The President was in a triumphant mood as he addressed the nation after the vote on Capitol Hill - even winking at photographers before boarding Air Force One for a flight back to the beach-front mansion where Michelle and the children are staying.
The U.S. The fiscal cliff deal that almost wasn't - John Bresnahan and Carrie Budoff Brown and Manu Raju and Jake Sherman. House Speaker John Boehner couldn’t hold back when he spotted Senate Majority Leader Harry Reid in the White House lobby last Friday. It was only a few days before the nation would go over the fiscal cliff, no bipartisan agreement was in sight, and Reid had just publicly accused Boehner of running a “dictatorship” in the House and caring more about holding onto his gavel than striking a deal. Continue Reading Obama: Cliff deal 'just one step' Fiscal cliff winners & losers “Go f— yourself,” Boehner sniped as he pointed his finger at Reid, according to multiple sources present.
Reid, a bit startled, replied: “What are you talking about?” Boehner repeated: “Go f— yourself.” (PHOTOS: Pols who dropped the ‘f bomb’) (Also on POLITICO: Crisis averted: Cliff bill clears Congress) It took a late intervention of two Senate veterans — Senate Minority Leader Mitch McConnell (R-Ky.) and Vice President Joe Biden — to rescue the negotiations. (Also on POLITICO: Why Obama, McConnell took the deal) Rivals dig in as fiscal cliff drama debuts. Congress, Obama playing with dynamite, CEOs say of fiscal cliff.