Less than 24 hours after the Senate passed compromise legislation worked out by Mitch McConnell and Joe Biden to restore most of the tax cuts that lapsed on January 1, John Boehner brought it to the House floor, where it passed on the strength of Democrat votes.
The fiscal cliff legislation doesn’t address some of the most important issues that are components of the cliff – the government spending sequester cuts, for example, and the debt ceiling – but the tax cuts were by far the largest issue that needed to be dealt with. As a compromise, tax rates will rise not on income-earners over $250,000, as President Obama pushed for, but only on those above $450,000.
The House passed the legislation 257-167. Republicans voted overwhelmingly against it – only 85 voted in favor – while Democrats carried it across the finish line with 172 “yes” votes. Speaker John Boehner voted in favor of the legislation, as did former Vice Presidential candidate Paul Ryan.
“I came to Congress to make tough decisions – not to run away from them,” Ryan’s statement said.