WASHINGTON — In one of the most abrupt Capitol Hill press conferences ever, House Speaker John Boehner yesterday dared President Obama to ignore a Republican offer to raise taxes on millionaires and instead take a fiscal-cliff jump.
“He can call upon the Senate Democrats to pass the legislation or he can be responsible for the largest tax increase in American history,” Boehner told reporters before walking off after just 49.5 seconds at the podium.
Boehner’s hasty retreat as reporters shouted questions mirrored the impasse in negotiations.
Obama, who proposed higher taxes on incomes above $400,000 a year, pressed Republicans to come to an agreement to avert the cliff by invoking the tragic school shooting in Connecticut.
Photo: Getty Images
RIGHT TO THE POINT: House Speaker John Boehner issues his latest fiscal-cliff negotiation challenge to President Obama yesterday.
“Goodness, if this past week has done anything, it should just give us some perspective,” Obama said at a White House press conference called to discuss gun control.
Without a deal, the cliff hits on Jan. 1 with huge automatic tax hikes on every American and deep spending cuts that likely will cause another recession.
Fitch Ratings agency yesterday warned that it would likely downgrade the United States’ top AAA credit rating if Washington can’t strike a deal.
Boehner’s latest proposal, called Plan B, would spare more than 99 percent of Americans from tax hikes but raise rates on annual incomes over $1 million.
The two sides are at odds over the mix of higher taxes and spending cuts needed to replace the self-imposed cliff but still reduce government debt.
Obama has proposed $1.3 trillion in new tax revenues over 10 years, while Boehner has called for $1 trillion.
“The idea that we would put our economy at risk because you can’t bridge that gap doesn’t make a lot of sense,” Obama said.
The House is expected to pass the Plan B bill today, with overwhelming support from Republicans despite their longtime opposition to higher taxes.
Obama said he would veto it, and Senate Majority Leader Harry Reid (D-Nev.). said the measure couldn’t pass his chamber even as a last-ditch effort.
Anti-tax activist Grover Norquist blessed the bill, saying it would not violate his no-new-taxes pledge that many Republicans have signed.
smiller@nypost.com
Boehner dares Obama to reject a GOP tax hike on millionaires in 49-second address
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Boehner dares Obama to reject a GOP tax hike on millionaires in 49-second address
