White House rejects Boehner's backup fiscal cliff plan

The White House has rejected House Speaker John Boehner's backup plan for avoiding the

The White House has rejected House Speaker John Boehner's backup plan for avoiding the "fiscal cliff." (12/18/12)

WASHINGTON, D.C - The White House has rejected House Speaker John Boehner's backup plan for avoiding the "fiscal cliff."

Senate Majority Leader Harry Reid says the "plan B" approach, which addresses only taxes and not spending cuts, can't pass the Democratic-run Senate.

The White House says President Barack Obama is willing to continue working with Republicans. Unless he and Congress strike a compromise, tax increases and wide-ranging cuts will begin taking effect Jan. 1.  

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