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Boehner pulls 'Plan B' vote: What's next?

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    Republicans put pressure on Obama, Reid

  • Duration 6:11
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Are right this alert now on the bitter showdown over the fiscal crisis the clock ticking down now to spending cuts and tax hikes and every American and significant military -- the Pentagon a short time ago John Boehner.

Was at the podium after his back up plan the plan B.

Was shut down.

At some point we're gonna have to address.

The spending problem that we.

But we can't cut our way to prosperity we need real economic growth.

Among many of us believe on both sides of the of the fundamental reform of our -- Won't help us get our economy moving faster and put more Americans back to work and more Americans of -- tax rules.

How we get there.

And god only knows.

Bruno said Royce California Republican Jason -- it's Republican from Utah gentlemen good morning to both the -- I know you guys are Brothers based on what I'm seeing here in the camera.

Congressman ever America we're gonna.

And that was all sarcasm guys but seriously are now congress and in shape -- you would not have voted for plan B anyway would you.

Don't know -- actually with the -- I I wanted to overt.

As many tax increases is possible I told the speaker that I was supported site I don't.

Like the idea that we're raising taxes on anybody.

But my conscious is clear we we pass the bill on August.

That extended out every single one of the tax.

Tax rates and and would have averted this is the United States senate that have an active and but we are -- we are.

Congressman Royce would you have voted in favor a plan B.

Yes and I will share with you wise we face a situation on January -- work every single American taxpayers going to see their taxes go up.

And especially when you consider the the AMT.

33 million Americans -- the AT&T as a result.

Of not taking action and on top of that.

We're gonna lose more -- more leverage as time goes on because the president wants.

As much as he can get in tax increases.

On the public.

And wants to do as little as possible in terms of spending cuts so frankly in these negotiations we've got to strengthen our hand.

And so what we're trying to do.

Were we were trying to protect the dividends tax rate in this measure that we were gonna pass out the top of dividends rate.

Would be 20% instead of the president's 39 point 6%.

Which is what he champions so this this was a much better deal.

Than what we're gonna face January 1 and we've got to figure out a solution between now and.

Yeah -- yes we do it all Americans are waiting for that congressman chip it's first on that what is next how to we.

Find a way out of this with ten or eleven days in the -- Well look the reality is the current law have we do nothing.

January 1 every single American will get a massive massive tax increase and that's what we were trying to -- now.

The president and Harry Reid actually have to produce something they've been away all of rhetoric that you there's a lot of talk.

I've been here four years in this congress the United States senate has never passed the budget.

In fact the president's budget for years -- -- not a single person Republican or Democrat has ever voted in favor of the president's budget.

So the pressures on the president and Harry Reid to not only produce something but passage in the United States that.

Still trying to figure out a way out of this -- -- an -- if the senate has not moved as you say in years will they move now a congressman Royce what is your view on this.

I -- how how you would tell your own folks receiver that you represented in Washington.

About.

The next step forward what is it.

We'll think about this I mean obviously -- the next step is for the president and speaker to reach an agreement.

But how to do that.

Win the president of the United States is asking for more respect asking for another stimulus stimulus bill despite the fact that the last one didn't work.

And so.

As Republicans were not about to increase spending we -- -- see spending reduced clearly we see this is a spending problem long range.

And so our hope.

Is that is we get closer to that fiscal cliff we can get the president to come our way we can get this compromise.

That will keep the taxes from going up.

And at the same time.

Will hopefully address some of the long term entitlement.

And on those -- cars -- -- as you try and move through that what is the danger to the economy in the mean time.

-- it is you can imagine January 1 if we saw the types of spending inquiry.

Tax increases.

That would hit this economy that the that the president is is supportive of we we would we would go back into recession so it's it's essential it's essential.

That we to some degree bend this curve -- -- from the massive tax increases.

That the Democrats would -- has just one more point to congressman -- that's what what speaker Boehner just said a few moments ago seemed like.

The White House was not -- you are even offering one to one meeting revenue to just spending.

But with the president said the other day is that he's two to one or two and a half to one.

What what is it.

Well.

You you have to take into account the fact that he wants to increase spending he tends to it -- for yet.

That he has all these new spending programs that he also wants out on top of this so.

The -- that plays out in such a way that we're gonna have a massive multi trillion dollar tax increase.

Without action in the days are -- tonight.

The United States that it is -- you know going to recess and go to Hawaii and and I just think it's all such a bad message in this economy we -- dealt with this months ago.

The house passed.

Did the responsible thing we passed out of built in August to keep all these tax rates even the country needs to remember that the house -- acted it's only the United States senate and the president that have not -- -- -- We'll see whether or not we see both -- -- on the 26 of December sometime within that we Jason's kids -- -- get Royce thanks for you -- your time as well.

Thank you guys.

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