Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement today after Speaker John Boehner put forward his so-called “Plan B” proposal to raise tax rates only on Americans making more than $1 million per year:
“By conceding that they are willing to raise tax rates, the Republican leadership has delivered a victory to President Obama. Republicans have now yielded on the point of rates. So why won’t they work with Democrats on tax rates as part of a responsible, balanced agreement to create jobs, spur the economy, strengthen the middle class, and reduce the deficit?
“Earlier this year, I put forward a plan to smoke out the Republicans’ true position: a proposal to raise taxes on those making over $1 million per year in context of a big, bold, and balanced plan. Republicans said ‘no’ six months ago; the President took his case to the American people to use $250,000 as a threshold for higher tax rates, and the public supported him.
“With the fiscal cliff just two weeks away, Republicans’ so-called ‘Plan B’ is nothing more than a cynical ploy that is harmful to the middle class and the economy. It is not big enough or balanced enough to comprise a sufficient down payment to reduce the deficit and promote growth, while instilling confidence in consumers and the markets, lifting the sequester, and preventing another Republican-led downgrade of our nation’s credit rating.
“By putting forward this plan, Speaker Boehner is indicating that he has 218 Republican votes to raise rates. Democrats are united in opposing this gimmick.”