CLIFF DEAL HITS A NEW SNAG with House Republicans !

Cliff deal hits a new snag with House Republicans

The bipartisan agreement struck in the Senate to avoid the worst effects of the “fiscal cliff’’ ran into strong opposition in the Republican-controlled House on Tuesday, with GOP members criticizing the deal for raising taxes without cutting spending.

Eric Cantor (R-Va.), the influential House majority leader, emerged from a two-hour meeting with GOP colleagues and said he opposes the Senate bill, which would let income taxes rise sharply on the rich. Rep. Jeff Flake (R-Ariz.) said Cantor “forcefully” expressed his concerns during the closed -door session, during which other GOP members expressed grave doubts about the agreement.

Cantor’s opposition likely dooms the chances for fast House passage of the legislation without changes, which could prolong efforts to avert the automatic tax increases and spending cuts that technically took effect on Tuesday. If there is no agreement by the end of the current Congress at noon on Thursday, negotiations would have to start over in the next Congress. Many economists believe that the fiscal cliff’s full effect would drive the economy back into recession. ...
FULL STORY: [link to www.washingtonpost.com]


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