The deal to avert the fiscal cliff looks stalled. Tuesday, Speaker John Boehner unveiled a “Plan B”, legislation to keep the Bush tax cuts for everyone making under one million dollars. It will likely be voted on Thursday.
“The American people aren’t interested in plan A, they aren’t interested in Plan B, they are interested in Plan C. Plan C is compromise,” Congressman Steve Israel,D-N.Y., said Wednesday on Jansing & Co.
The White House offered a change on taxes earlier this week, signaling it would move the threshold for raising taxes to households making more than $400,000 dollars, instead of $250,000.
Israel supports the move.
“Well, I actually think $400,000 is about right. I actually had some concerns with the initially figure of $250,000. $250,000 may make you rich in some areas of the country, but it does not make you rich in very high cost of living areas like Long Island.”
Israel’s district represents New York’s Long Island. Israel also responded to the other place where the White House appeared to be making concessions, changing the cost of living calculator for Social Security. This change would eventually mean checks for future retirees would shrink. Israel said while he would have a hard time doing that, “It is an indication, however, the fact that the President put this on the table, is another indication of his willingness to trying to get Republicans to meet him at least some of the way.”
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