FOXNews.com: Boehner to float 'Plan B' in case budget talks with Obama fall through

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Boehner to float 'Plan B' in case budget talks with Obama fall through Dec 18th 2012, 14:40 House Speaker John Boehner plans to offer a fall-back option Tuesday morning to avert the looming fiscal crisis, pitching a proposal to rank-and-file Republicans that would prevent a tax hike for most Americans.  The move comes amid accelerating talks with President Obama, but is being positioned as "Plan B" in case those talks fail to yield a compromise before a Jan. 1 deadline -- that's when taxes are set to rise on everyone, followed by a wave of spending cuts.  Boehner is trying to walk a tightrope in negotiations, with the president demanding tax hikes and many Republicans adamantly opposed to them.  The speaker on Tuesday is planning to call for a version of the plan he pitched last week. Boehner called for taxes to rise only on households making more than $1 million. It also calls for entitlement cuts and a tax reform debate next year.  The move could be a failsafe option, in case Boehner is unable to secure the votes to pass any future deal struck with the White House. But it also could be used to spur Obama to compromise a bit more.  A Boehner aide said the speaker is "hopeful an agreement will be reached," but complained that the president's latest counteroffer includes $1.3 trillion in revenue increases and "only" $850 billion in spending cuts.  "The threat of all current tax rates expiring is too great to not have a backup plan," the aide said.  Fox News' Chad Pergram contributed to this report.

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