House Republicans Balking at Putting Rubber Stamp on “Fiscal Cliff” Deal; No. 2 Eric Cantor Says He Opposes the Deal in Current Form – 1/1/13

House Republicans are balking at putting a rubber stamp on the “Fiscal Cliff” Deal passed by the U.S. Senate overnight – a deal that raises tax rates but has almost no spending cuts. Many in the media seemed to assume the House Republicans would feel forced to just go along with it – and they still might. But it is clearly in trouble, with the No.2 Republican in the House – Majority Leader Eric Cantor – saying this afternoon he does not support the bill:

POLITICO: A carefully-crafted Senate compromise to avert the fiscal cliff could be in jeopardy, as House Republicans seem nearly certain to tweak the legislation and send it back to the Senate because it doesn’t contain sufficient spending cuts. The anger came to a head in a closed House Republican Conference meeting in the Capitol basement Monday, when the opposition to the bill — which would extend tax rates for families making less than $450,000 — was overwhelming, sources inside the room said.

House Republican leadership dispersed from the meeting mulling how to proceed with the Senate bill, which passed shortly after 2 a.m. Republicans are expected to meet again later Tuesday afternoon to try and settle on a decision.

In a real sign of trouble, House Majority Leader Eric Cantor, No. 2 in House leadership, came out in opposition to the package. . . . Read More

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