The House just passed the “Spending Reduction Act of 2012” bill, by a vote of 215 to 209:

“The first of two measures related to Speaker John Boehner’s ‘Plan B’ tax proposal, HR 6684 would put off the sequestration, or automatic spending cuts, for one year, replacing it with other spending cuts,” C-SPAN explains.

“The House will then proceed with a series of roll call votes before taking up H J Res 66, Permanent Tax Relief for Families and Small Business Act. This measure would permanently extend the Bush-era tax rates for everyone on the first $1 million of earned income. Those earning more than $1 million would pay a higher tax rate,” the report adds.

House Minority Leader Nancy Pelosi (D-Calif.) has assured members of the press that her Democrat colleagues won’t support Speaker Boehner’s “Plan B” proposal and Senate Majority Leader Harry Reid (D-Nev.) has said that the Senate will not hear the proposal even if it passes the House.

President Obama has vowed to veto “Plan B.”

UPDATE(S):

It appears Speaker Boehner’s backup tax bill has run into a bit of trouble:

There are reports that Sen. Rob Portman (R-Ohio) has been seen trying to rally his former House colleagues to support “Plan B.” However, based on other reports surrounding the impending vote, it doesn’t seem to be working:

What do you suppose is going on in that Republican meeting?

Wow. Per Rep. Eric Cantor (R-Va.), there will be no vote tonight on the tax increase portion of “Plan B”:

The reason for postponing the vote? It’s what many has already suspected: Speaker Boehner doesn’t have the votes to pass it:

And then there’s this:

​Final Thought:

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Featured images courtesy the AP.

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