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White House threatens to veto Boehner's 'Plan B' proposal

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    Shannon Bream reports from Capitol Hill

  • Duration 3:31
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We've got a major showdown on our nation's capital over plan to avoid billions of dollars in tax hikes and spending cuts by the first of January.

At one point it looked like both sides were close to a deal with a White House has rejected house speaker John Boehner is back up proposal that plan B.

Saying that is not put enough from the tax burden on the wealthiest Americans some Republicans say they're trying to compromise but the president is not doing his part.

As you know of the speakers built.

Ready to talked to the president I think most of this morning that the president has just not come far enough.

In terms of spending reductions and that's what we've really -- No the problem is that we need to make some progress and Republicans are hot on that spending issue rightfully so we're just -- the president has threatened to veto in the speaker's.

So called plan B so where are we now.

Shannon -- on the -- -- what's the latest from there today it would be picking up.

Will bill house GOP leaders are still planning to move ahead with a vote tomorrow that would essentially take a build its -- -- back and forth between house and senate.

It really is on related to the fiscal -- but essentially what they're going to do he's got that bill and then vote on two amendments to that they'll wonder calling the Pelosi plan which would.

-- tax hikes for those making less than -- -- 50000 dollars a year has other.

Elements to -- but that's the primary keys and they're also gonna vote on this other plan this plan B which would be an amendment that would basically stop any tax pay hikes.

On those making a million dollars -- last Republicans for now say that they do feel confident they'll have enough votes to get that measure passed that they say it's only part of the problem.

Here is congressman John -- We need to address that spending problem.

The president's been unwilling to come forward with any meaningful.

Spending cuts any entitlement reforms if you don't win.

Reforming entitlements.

You can never really get after the debt and deficit.

So again if the house GOP does succeed in passing that measure tomorrow one of those two amendments they're gonna vote on essentially trying to get to that -- and -- -- still doesn't address the spending issues -- later -- -- with -- won't get here from Democrats who weren't happy about the spending cuts that's the second page in this thing.

What about the threat of the veto from the White House.

The gap and we got a couple of steps to get their first of all here's what I Harry Reid as senate majority leader says.

About whether this house measure -- -- -- past his body.

Speaker -- proposal.

Is not balanced.

Well not protect the middle class because it can't pass the senate and it doesn't do anything.

All right so even if it did get passed the -- you heard today we had this breaking news just moments ago the White House sent out a statement.

-- basically saying even if -- We know that the lines of communication are still open here is what white house Press Secretary Jay Carney says about that.

Lines of communication remain open the president.

Continues to hope that.

Compromise can be reached as I said at the top the parameters of the deal -- clear when you look at the offers.

Proposals in the counter proposals to pass to.

An agreement is clear.

That any hopes that the Republicans will join him on that path.

Right so even if the GOP moves ahead with -- vote tomorrow it looks like it's going to be meeting lists of blocked -- -- senate and we know for sure now the White House.

No word today there -- any meetings on the schedule.

All right Chad thank you towns around -- and -- on the hill.

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