That might be the scenario we're looking at. The House just passed, 215-209, the sequestration replacement bill, the big sweetener Speaker John Boehner used to try to bribe people into supporting his Plan B fiscal
cliff curb. There were 21 Republicans who voted "no." No Democrats defected.
The Plan B vote is very, very tight for Boehner. The Hill is reporting that two dozen Republicans are solid "no" votes on the Plan B, which extends the Bush tax cuts for everyone except people making over $1 million to revert to Clinton-era levels. Also:
Plan B also sets at 20% the tax rates for capital gains and dividends on income higher than $1 million — but keeps the current 15% rate for those making less than $1 million. Without a fiscal cliff agreement, rates on capital gains go up to a maximum of 23.8%. For dividends, rates go even higher, from 15% now to 43.4%.[...]So it's still a pretty good deal for millionaires. But maybe not a good enough deal for the fringe of the Republican extremist House. The vote on Boehner's tax plan will be at around 8:00 ET. Unless it takes him a lot longer to twist enough arms. Boehner could be heading for a very embarrassing loss.
Boehner’s bill would keep current rules on the estate tax, setting the exemption just north of $5 million with a top rate of 35%. That’s compared to 55% without a fiscal-cliff deal. Obama would set the estate tax at 45% with a $3.5 million exemption.
4:17 PM PT: Or the vote won't take place in 45 minutes. A few minutes ago, this happened.
And then this:
Might be a long night for Boehner.
4:26 PM PT: Heh.
I'm very sorry to see Barney go.
4:31 PM PT: This is gonna take a while.4:36 PM PT: 4:41 PM PT: 4:50 PM PT:
4:57 PM PT: Ruh-roh
5:01 PM PT: And, scene.
If confirmed, this is a huge misstep by Boehner.