UPDATED: With No House Vote, Will The U.S. Go Over ‘Fiscal Cliff’ at Midnight?
The House said today that it would have one vote tonight and that it would not be on the “fiscal cliff,” a year-end combination of tax increases and heavy spending cuts, CNBC reports.
House leaders said last week during a last-minute meeting that it was up to the Senate to produce legislation that both chambers could agree on.
That Senate has failed produce anything. This means that it is almost certain that we will go over the “cliff” tonight:
BREAKING: The U.S. will go over the fiscal cliff tonight.
— CNBC (@CNBC) December 31, 2012
JUST IN: House will not vote tonight; nation will go over fiscal cliff at midnight
— CBS News (@CBSNews) December 31, 2012
Happy New Year!
UPDATE: But wait! Here’s some clarification from Brendan Buck, Press Secretary for House Speaker John Boehner:
People – we don’t have anything to vote on before midnight. The House will take action after the Senate passes something.
— Brendan Buck (@Brendan_Buck) December 31, 2012
Also, according to the National Review’s Robert Costa, a few “trusted sources say all sides, at top levels, know this gets done Jan 1 evening at the earliest, more likely Jan 2.”
Lastly, per CBS News’ Mark Knoller, House members are being asked to keep close to the Capitol Building in case “any additional votes arise”:
House Members also advised by Majority Whip’s office to “stay close to the Capitol tonight should any additional votes arise.”
— Mark Knoller (@markknoller) December 31, 2012
UPDATE(S) II: MSNBC’s Chuck Todd explains where the Senate stands in negotiations:
As soon as Biden and McConnell can work out buying down 3-months of the sequester via 50% spending cuts and 50% taxes, then there’s a deal
— Chuck Todd (@chucktodd) December 31, 2012
Now the Wall Street Journal reports that a deal has “largely” been reached:
Sen Kyl: Deal is largely reached to avert fiscal #cliff. Still hoping to vote tonight in Senate.
— WSJFiscalCliff (@WSJFiscalCliff) December 31, 2012
However, word is out (as Sen. Harry Reid would say) that there are a number of Democrats who are not on board with deal Sen. Kyle is talking about:
Based on what reporters are saying, Senate GOP very much trying to say “deal done” to isolate Ds who seem to still have issues.
— Joseph Weisenthal (@TheStalwart) December 31, 2012
Senate deal seems to be all squared away, except for the part where Democrats need to agree to it.
— Matt Yglesias (@mattyglesias) December 31, 2012
UPDATE III: Well, that didn’t take long:
The House has adjourned until noon tomorrow
— Felicia Sonmez (@feliciasonmez) December 31, 2012
House has adjourned til noon Tuesday – 12 hours into fiscal cliff. Talks on cliff measure continue but bill is yet to be brought to Senate.
— Mark Knoller (@markknoller) December 31, 2012
As of this writing, the Senate is waiting on Senate Minority Leader Mitch McConnell (R-Ky.) and Vice President Joe Biden to broker an agreement. Reports claim a handful of Senate Democrats are unhappy with the package the two are working working out. UPDATE IV: Reports are coming in that a deal has been struck between the White House and Senate Republicans:
BREAKING: Senate Democratic aide: White House and GOP reach deal on fiscal cliff.
— The Associated Press (@AP) January 1, 2013
“The House is expected to begin considering the bill Tuesday with final passage in the next day or two,” writes the Washington Post’s Felicia Sonmez. “A vote on the package could be held by 10:30 p.m,” she adds. “[White House] officials gave in on estate tax.” According to initial reports, the final deal will also delay the automatic spending cuts (i.e. the “sequester”).
The deal is “basically” done. Now, Senate Dems have to bless it. Senate GOP has already done so. Vote cd happen by 3am — Chuck Todd (@chucktodd) January 1, 2013
Reports also note, along with GOP leaders, Sen. Harry Reid and Rep. Nancy Pelosi (D-Calif.) have signed off on the deal.
I am told by Hill/WH sources that Reid and Pelosi have OK’d the Biden-McConnell deal. Two-month sequester delay offset w/revenue & $ cuts — Major Garrett(@MajorCBS) January 1, 2013
The 2-month sequester delay: cuts would come half from defense & half-non-defense. 2 month window to give all sides time for bigger deal.
— Major Garrett(@MajorCBS) January 1, 2013
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