"John Boehner's Fiscal Cliff 'Plan B' Is a Tax Hike On Middle Class, Chuck Schumer Says"
It is amazing. Republicans look like they purposely created Plan B as a tax hike that would get virtually no Democratic votes. In other words, they loaded Plan B with poison pills to ensure that their bill, which the House is passing just to grand stand, does not actually have any chance of being signed into law.
"The 'Plan B' is a very flawed proposal," Sen. Chuck Schumer (D-N.Y.) said. "It gives huge tax breaks to the wealthy, an average of $50,000 per millionaire."
Among the missing tax cuts detailed by Schumer and Sen. Tom Harkin (D-Iowa) were a break for college tuition as well as portions of the Earned Income Tax Credit and the Child Tax Credit.
"It reduces the Earned Income Tax Credit that particularly harms families with three or four children, as well as families making $30,000, $40,000, $50,000 a year," Harkin said. "It completely shelters taxpayers making 10 times that amount."
"Only House Republicans could write a proposal with a million-dollar income threshold and still find a way to raise taxes on the middle class," Schumer said.