Republicans Balk at Tax Increases; U.S. Edges Closer to Cliff

Boehner cancels 'Plan B' due to House opposition.

House Speaker John Boehner said some members of the Republican caucus refused to back his tax measure because they didn’t want to be accused of raising taxes.

Boehner spoke to reporters in Washington a day after he scrapped a plan to allow higher tax rates on annual income above $1 million, throwing already-stalled budget talks into turmoil.

Treasury Employees

In a message to Treasury Department employees, Deputy Secretary Neal Wolin said day-to-day operations wouldn’t change dramatically in January if the automatic cuts take effect. Furloughs may be possible later if the issue is unresolved for an extended period of time, he wrote.

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