This isn’t really surprising, is it? It’s official at last: the House of Representatives will not vote on a fiscal cliff deal tonight, so it’s over the edge we go.
Official: no vote on fiscal cliff in the House tonight.
— Luke Russert (@LukeRussert) December 31, 2012
Its official. No vote on fiscal cliff tonight
— Dana Bash (@DanaBashCNN) December 31, 2012
The House of Representatives will wrap up business today without Fiscal Cliff vote. CNN LIVE
— Richard T. Griffiths (@griffiths) December 31, 2012
NBC News: No House vote tonight, U.S. to go over #FiscalCliff.
— MSNBC (@MSNBC) December 31, 2012
http://twitter.com/viewofadam/statuses/285852044764524544
All those who bet that fiscal cliff deadline would not be met – hold on to your pari-mutuel tickets until judges decision is final.
— Mark Knoller (@markknoller) December 31, 2012
No vote on fiscal cliff this evening, congressional source says. Described as going over the cliff, but with a bungee cord. Maybe.
— Ken Bazinet (@bazmaniandevil) December 31, 2012
Right now, millions of Obama voters are going "OMG! We're going over the cliff!" while failing to realize it was what they voted for. #tcot
— RBe (@RBPundit) December 31, 2012
The House GOP are scheduled to meet at 5 p.m. tonight, but the only order of business is a Superstorm Sandy relief bill. Sources say the House will not vote on a Senate bill if the Senate does manage to produce one.
SOMEONE MEETING!: House GOP to meet at 5p ET, our @deirdrewalshcnn reports.
— Lisa Desjardins (@LisaDNews) December 31, 2012
MT @deirdrewalshcnn: GOP aide stress tonight's mtg of House Repubs is on Sandy $ bill, but hard to imagine they wont address cliff
— Lisa Desjardins (@LisaDNews) December 31, 2012
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Ohio’s Rep. Steven LaTourette, a Republican, calls the whole process “disgusting.”
Rep. LaTourette: This is disgusting. Disgusting the president can't do more on spending. The whole thing is disgusting. #fiscalcliff
— Chad Pergram (@ChadPergram) December 31, 2012
What does that mean for the average American? We’re not certain (especially about that “bungee cord” metaphor). The Defense Department is reportedly preparing to send out 800,000 layoff notices.
SEQUESTER MOVES: Defense Dept. tells CNN that they are ready to tell 800,000 civilian employees to expect poss furloughs b/c of fiscal cliff
— Lisa Desjardins (@LisaDNews) December 31, 2012
Sequestration could mean 800,000 furloughs for Defense Department’s civilian workers http://t.co/HNB8b7gQ
— Save the EPA (@SavetheUSEPA) December 31, 2012
Congress still gets that pay raise, though, although Rep. Michelle Bachmann has just announced she’ll introduce legislation to stop that from happening.
I am introducing legislation to block Pres. Obama's exec order that gives Congress a pay raise. We need to cut spending not increase it.
— Michele Bachmann (@MicheleBachmann) December 31, 2012
One plus: the markets seem to be happy about the news.
Stock market likes fiscal deal. Stocks up big to close year with large gains.
— Darrell West (@darrwest) December 31, 2012
https://twitter.com/viewofadam/status/285852927845871616
Many are qualifying their news of our plunge over the cliff with the word “technically.” Cuts aren’t scheduled to take place until Wednesday, which still leaves some time for a vote.
House GOP aide: "If a deal is reached, there is little substantive difference between a vote at midnight and a vote tomorrow." Important pt.
— Rebecca Buck (@RebeccaBuck) December 31, 2012
* * *
Update:
The House is scheduled to reconvene tomorrow at noon. House Speaker John Boehner had advised representatives to stay near the Capitol tonight.
BREAKING: House of Representatives to reconvene at noon ET on Tuesday – Reuters
— CNBC (@CNBC) December 31, 2012
House continues to wait for Senate to act on #fiscalcliff. @GOPWhip has advised Members to stay near Capitol in case of further votes.
— John Boehner (@SpeakerBoehner) December 31, 2012
In the meantime, the Senate has been working on its version of a bill, and sources say a deal there that will delay the sequester for two months is nearly done.
Multiple gop senators out of meeting say the deal is virtually done. Sequester issue: delay 2 months and replace w/ tax revenue per mccain
— Dana Bash (@DanaBashCNN) December 31, 2012
As soon as Biden and McConnell can work out buying down 3-months of the sequester via 50% spending cuts and 50% taxes, then there's a deal
— Chuck Todd (@chucktodd) December 31, 2012
Senior Senate R source says they hope the Senate can vote tonight on #fiscalcliff . As to time, source said "10 or 11."
— Chad Pergram (@ChadPergram) December 31, 2012
Others say it might be 2013 before the Senate actually votes.
SENATE VOTE Tonight?: Corker just told a couple of us it's "very likely" but could be 1, 2, 3, 4 in am. Glad I have a disco ball on my desk.
— Lisa Desjardins (@LisaDNews) December 31, 2012
* * *
Update:
It looks like a long night ahead for both the Senate and the reporters covering it.
The Senate just extended morning business until 9 p.m. Not cool. Not cool.
— Richard Rubin (@RichardRubinDC) December 31, 2012
Did not expect that my first post-Dick Clark New Year's would be hosted by Joe Biden.
— Richard Rubin (@RichardRubinDC) January 1, 2013
Sen Baucus says deal is very close. No Biden yet. And issues remain, including indexing estate tax exemption.
— Richard Rubin (@RichardRubinDC) January 1, 2013
FISCAL CLIFF now: Senate Dems aren't meeting, no time set yet for when they will. cc: reporters in the Ohio Clock Corridor
— Lisa Desjardins (@LisaDNews) January 1, 2013
Senate Dems have been told to expect their meeting to (finally) happen within the next hour. Had been holding off due to a lack of deal…
— Rebecca Buck (@RebeccaBuck) January 1, 2013
Happy NYE from the Senate, where we’ll be stuck forever. Glad I wore sequins. (Thanks for the snap, @jwestcottphoto.) pic.twitter.com/ReeLgBkr
— Rebecca Buck (@RebeccaBuck) January 1, 2013
This will not go down as one of my favorite New Years's Eves. Memorable yes.
— Claire McCaskill (@clairecmc) January 1, 2013
The White House staff has ordered pizza. #longnight
— Zeke Miller (@ZekeJMiller) January 1, 2013
The WH mess is closed… so the staff is ordering out; they assume a long night. Think it's pizza and wings, for those that care
— Chuck Todd (@chucktodd) January 1, 2013
If @JoeBiden is coming up to the Hill I hope it looks something like this pic.twitter.com/PMC60mco
— Mike Memoli (@mikememoli) January 1, 2013
Biden and the Senate Dems go on live at 9:15. New Year's Rockin Capitol Eve.
— Richard Rubin (@RichardRubinDC) January 1, 2013
Democrat source confirms VP Joe Biden is heading to Capitol Hill. The Senate Democratic Caucus will meet at 9:15pm ET. #CNN #BREAKING
— Stephanie Gallman (@sgallman) January 1, 2013
McConnell, Reid and White House have struck a deal. VP Biden headed to Capitol hill to brief senators now.
— Jessica Yellin (@JessicaYellin) January 1, 2013
BREAKING: Democratic sources tell our @YellinCNN, @DanaBashCNN that there is a deal. Echoing GOP sentiment a few hours ago. #NeedDetails
— Lisa Desjardins (@LisaDNews) January 1, 2013
So, what have Biden and the Senate Democrats come up with? One source says — shocker — higher income taxes.
Obama,Senate GOPers have reached deal that would let income taxes rise significantly for 1st time in 20+ years, reports The Post's Paul Kane
— Felicia Sonmez (@feliciasonmez) January 1, 2013
The deal is "basically" done. Now, Senate Dems have to bless it. Senate GOP has already done so. Vote cd happen by 3am
— Chuck Todd (@chucktodd) January 1, 2013
Here’s a refreshing change: the word “cave” appearing somewhere else besides next to the name “Boehner.”
Dem Senate aide characterizes outcome on fiscal cliff deal re: estate tax and sequestration: "WH cave, WH cave." Expects a vote tonight.
— Rebecca Buck (@RebeccaBuck) January 1, 2013
Senior Dem aide says White House has agreed, against Dem wishes, to a two month sequester delay and to index the estate tax.
— Brian Beutler (@brianbeutler) January 1, 2013
Reports indicate that the Senate and White House have managed to kick the can down the road two whole months. With all the excitement of a deal getting done, is anyone actually happy with it?
This deal INCREASES spending. It's more of the same irresponsible & reckless behavior we've come to expect from Congress.
— Justin Amash (@justinamash) January 1, 2013
So let's get this straight. The deal raises taxes, spends billions more and pushes off $110 billion in cuts? No thanks. http://t.co/zFUD1DlD
— Joe Scarborough (@JoeNBC) January 1, 2013
I am told by Hill/WH sources that Reid and Pelosi have OK'd the Biden-McConnell deal. Two-month sequester delay offset w/revenue & $ cuts
— Major Garrett (@MajorCBS) January 1, 2013
The 2-month sequester delay: cuts would come half from defense & half-non-defense. 2 month window to give all sides time for bigger deal.
— Major Garrett (@MajorCBS) January 1, 2013
Despite this deal on taxes, realize that in March, we will have new steeper cliff: debt ceiling, govt' funding and sequester again
— Chuck Todd (@chucktodd) January 1, 2013
Important new info: Senior official says deal on Sequester is just a "two-month buydown" as in enough savings to shut it off for 2 months
— Ed Henry (@edhenry) January 1, 2013
So a) they will have to come back and deal with sequester next year b) half of the two-month fix comes from spending cuts, half from revenue
— Ed Henry (@edhenry) January 1, 2013
WH official on the deal: "It is a compromise, so we don't love it, but it is the right thing to do for the economy."
— jonkarl (@jonkarl) January 1, 2013
Income taxes go up for individuals making over $400K. 40% Estate tax kicks in at $5 million, indexed for inflation
— jonkarl (@jonkarl) January 1, 2013
Republican Senate leadership confident the deal passes by a large margin in both the Senate and House.
— jonkarl (@jonkarl) January 1, 2013
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