LIVE: House Votes On Fiscal Cliff Deal - Business Insider

The House of Representatives finally approved a deal on the fiscal cliff Tuesday night, paving the way for President Barack Obama to sign a bill that will stave off tax hikes for most Americans.?

After a day of chaotic day of wrangling, the House voted 257-167 to approve the bill.

Most Republicans voted against the measure, which will raise tax rates for individuals and households earning more than $400,000 and $450,000, respectively, as well as increase tax rates on capital gains and dividends, raise taxes on estates above $5 million, and extend unemployment benefits and some stimulus tax credits.

The bill also delays the onset of automatic spending cuts by two months, and does nothing to deal with the issue of raising the debt ceiling, setting the stage for another round of major budget battles in the next Congress.

On Tuesday, House Republicans initially indicated that they would amend the bill to include spending cuts, but dropped that plan when it was clear that they did not have the votes to pass an amendment. said that they could not support the bill without spending cuts.?

Check out our full liveblog of the day's developments below.

1:12 AM | John Boehner: 'Now the focus turns to spending'

In the wake of an embarassing defeat on the fiscal cliff bill to raise taxes, House Speaker John Boehner pledged to double down on the issue of spending cuts.?

In a statement following Tuesday night's House vote on the fiscal cliff deal, House Speaker John Boehner promised to double down on the issue of spending cuts when the new Congress begins later this month.

By all counts, Boehner suffered an embarrassing defeat during this round of budget talks. After abandoning attempts to reach a "grand bargain" with the White House, the House Speaker failed to get the votes to pass his own "Plan B" earlier this month, poisoning negotations and punting the worsened situation to the Senate.?

Today, Boehner once again failed to rein in his caucus. GOP leaders initially floated the idea of adding an amendment to include spending cuts in the Senate's fiscal cliff bill ? a move that would have almost certainly killed the agreement ? but couldn't get the votes to pass the measure. In the end, Boehner voted for the clean Senate bill, but lost the support of the majority of his caucus.?

Here's his full statement on Tuesday's vote:?

?The federal government has a spending problem that has led to a $16 trillion national debt that threatens our country?s future.? On the day after the election, I proposed that both parties work together to avert the fiscal cliff in a manner that would ensure 2013 is the year we finally enact entitlement reform and pro-growth tax reform to begin to solve our country?s debt problem.

?Now the focus turns to spending.? The?American people re-elected a Republican majority in the House, and we will use it in 2013 to hold the president accountable for the ?balanced? approach he promised, meaning significant spending cuts and reforms to the entitlement programs that are driving our country deeper and deeper into debt.?

?Without meaningful reform of entitlements, real spending controls, and a fairer, cleaner tax code, our debt will continue to grow, and our economy will continue to stumble.? Republicans stand for a stronger, more prosperous America, rich in opportunity and free of the debt that threatens our children?s future.? On this New Year?s Day, we renew our commitment to that vision, humbled by the opportunity to serve.?

12:55 AM | Pelosi sticks it to Boehner: 'I'm especially proud of the unity of the House Democratic caucus'

Unable to resist a little chest-thumping after Tuesday's House fiscal cliff vote, Democratic Minority Leader Nancy Pelosi issued a statement heralding the bill's passage as a "victory" for the Obama administration.

Pelosi, whose caucus delivered the majority of the votes needed to pass the deal, also took a pointed jab at her Republican counterpart, House Speaker John Boehner, who has struggled to rein in his caucus throughout the cliff debate.?

Here's Pelosi's full statement:?

?The House passage of the Senate?s bipartisan legislation is a victory for the middle class. ?Our action permanently extends the middle class tax cut and promotes economic growth, while asking the wealthiest Americans to pay their fair share. ?It extends unemployment insurance for those who lost their jobs through no fault of their own.

?With the passage of this measure, we strengthen the principle that we must have equal parts revenue and spending cuts as we work to reduce our deficit. ?We strengthen our economy through investments in innovation, tax credits for education, and tax breaks to spur the technologies of the future, including renewable energy.

?Tonight?s progress is not only a victory for the middle class but for the President and Vice President who campaigned on protecting the middle class ? and kept their promise to the American people.

?I am especially proud of the unity in the House Democratic Caucus ? of our ongoing commitment to protect the economic security of the middle class and our willingness to find common ground and work in a bipartisan way to get the job done. ?To that end, we are off to a good start in the new year.?

11:12 PM | Obama will make a statement on the fiscal cliff deal at 11:20 p.m. tonight.

Check out our full coverage of his remarks here >?

10:59 PM | The House has officially passed a fiscal cliff deal.

The House voted 257-167 to pass the Senate bill on the fiscal cliff. The bill now heads to President Barack Obama for final approval.?

House Speaker John Boehner and House Minority Leader Nancy Pelosi both voted in favor of the bill.?Surprisingly, House Budget Chair Paul Ryan ? author of the GOP's big austerity plan ? also voted in favor of the bill.

Majority Leader Eric Cantor and Republican Whip Kevin McCarthy ? the No. 2 and 3 House GOP leaders, respectively ? voted against the deal. Both waited until the bill had cleared the 217 threshold to cast their votes.?

In total, 172 out of 236 House Republicans voted against the bill, with just 82 GOP members voting in favor. Meanwhile, 172 Democrats cast yes votes, compared to 17 who voted no.?

Here's the full roll call >?

10:42 PM | FINALLY! The House Is Voting On The Fiscal Cliff Deal

10:37 PM | No sign of Boehner or Cantor....

House Speaker John Boehner or Majority Leader Eric Cantor have yet to give remarks during the House floor debate over the fiscal cliff. Doesn;t look like either will make an appearance before the vote...

10:10 PM | House Minority Leader Nancy Pelosi just wrapped up her floor speech on the bill.

Pelosi couldn't resist a little gloating on the House floor tonight, calling the vote on the Senate fiscal cliff bill "an important first step" to economic recovery.?

"We thank Speaker Boehner for bringing this legislation to the floor," she said.?"While this bill doesn't accomplish all that we need to do...it is a good way for us to have a happy start to a new year."

Pelosi's speech followed the House's overwhelming vote in favor of a resolution to allow the Senate fiscal cliff bill go to a floor vote tonight. The final bill is expected sometime between 10:30 p.m. and 11:00 p.m.?

9:41 PM | Top conservative groups are urging House Republicans to vote against the Senate bill.

Several top conservative groups ? including FreedomWorks, the Club for Growth, and the American Conservative Union ? issued statements Tuesday night urging House Republicans to vote against the fiscal cliff.?

FreedomWorks president Matt Kibbe told Politico he was "utterly offended" by the process, and reiterated his group's opposition to allowing any of the Bush tax cuts expire.?

ACU president Al Cardenas took a more measured approach, issuing a statement urging the House to remove all of the stimulus spending measures in the Senate bill and pass an amended version of the bill that only includes the provisions that extend the Bush tax credits for those earning under $450,000 and allow a slight increase in the estate tax rate.?

The Club for Growth, Heritage Foundation, and Americans For Prosperity have also come out in opposition to the deal.?

And here's the brutal banner leading Drudge Report >?

8:43 PM | The House is back in session for debate over the Senate fiscal cliff bill.

8:34 PM | The House Rules Committee has approved a closed rule to bring the Senate fiscal cliff bill to the floor.

Vote expected around 9:30 p.m.

8:02 PM | CNN reporter Dana Bash tweets that the House will vote on the Senate bill at the 9 p.m. hour.

8:01 PM | The House Rules Committee is set to decide on an up-down vote on the clean Senate bill.

So that's it for the GOP's spending amendment...

Both House Speaker John Boehner and House Minority Nancy Pelosi believe the bill will pass on an up-down vote, likely with a majority of support coming from Democrats.?

7:52 PM | GOP House aide predicting the passage of Senate bill: "Members seem tired and ready to go home."

7:37 PM | Republican members are now saying that it looks like the Senate fiscal cliff bill will pass on an up-down vote.

Oklahoma Republican Rep. Tom Cole told CNN that he believes the House will vote to pass the Senate fiscal cliff bill tonight, the?implication being that GOP leaders don't have the votes to pass their spending amendment.?

"The Senate bill has big wins for us," Cole said. "We'll take what the Senate negotiated and pass it."

The House Rules Committee is still awaiting word on which bill they are bringing to the floor for a vote tonight.?

7:25 PM | Here's the full spending amendment Republicans are trying to pass...

Check out the whole thing here >?

7:10 PM | Republicans don't think they have the votes to pass the spending amendment.

As expected, reports from the House floor indicate that Republicans don't have the votes to pass the spending cuts amendment to the Senate fiscal cliff bill.?

If that is the case, GOP leaders have said that they will hold an up-down vote on the Senate bill.

6:35 PM | The House is back in session

6:18 PM | REPORTS: House GOP will whip spending cuts ? if they can't get the votes, they'll hold an up-down vote on the Senate bill

Several reporters, including MSNBC's Chuck Todd and Politico's Jake Sherman, are tweeting that House Republican leaders have come up with a two-bill strategy on the fiscal cliff.?

According to the reports, GOP leaders will whip votes for an amendment to add spending cuts to the bill the Senate passed early Tuesday. If they cannot get the 218 votes they need to pass the amendment, they have said they will hold an up-down vote on the Senate legislation.?

Democratic Senate aides have said that Majority Leader Harry Reid will not hold a vote on any amended bill.?

If the reports are correct, it would appear as though Republicans are tacitly conceding defeat. Earlier this month, House GOP leaders were unable to muster up the votes to pass the fiscal cliff "Plan B" bill, legislation that was authored by Republicans and originated in the House.?So it seems safe to conclude that Republicans won't go for the deal brokered by the White House and Senate Minority Leader Mitch McConnell.?

On the other hand, House Democrats have said they are confident the unaltered McConnell-Biden deal could pass the House on an up-down vote.?

5:23 PM | AP photographer Charles Dharapak Instagrams this gorgeous photo of the West Wing ? the Marine sentry means Obama is working.

5:16 PM | House Minority Leader Nancy Pelosi again urges Boehner for an up-down vote on the fiscal cliff bill.

5:00 PM | House Republicans are convening at 5:15 p.m. for a second caucus meeting on the fiscal cliff bill.

4:59 PM | Joe Biden: "I think we're going to be fine"

Caught by cable news cameras during a sandwich run near the White House, Vice President Joe Biden brushed off reports that House Republicans are going to send the fiscal cliff bill back to the Senate, saying that he thinks "we're going to be okay."?

Fox News producer Joy Lin tweets this photo of the encounter:?

4:51 PM | Cantor Spox: Everyone Just Chill Out For A Sec

With speculation mounting over what House Republicans plan to do about the fiscal cliff, Rory Cooper, a spokesperson for House Majority Leader Eric Cantor, sends out this tweet:?

3:26 PM | BOEHNER SPOX: Lack Of Spending Cuts Was 'A Universal Concern' Among Republicans

House Speaker John Boehner's spokesperson Brendan Buck sends this update from this afternoon's House GOP conference meeting:

?The Speaker and Leader laid out options to the members and listened to feedback. The lack of spending cuts in the Senate bill was a universal concern amongst members in today?s meeting. Conversations with members will continue throughout the afternoon on the path forward.?

3:15 PM | CANTOR: "I do not support the bill"

House Majority Leader Eric Cantor just told reporters that he cannot support the fiscal cliff bill in it's current form.?

He added that Republicans have made no decisions on the path forward.?

3:11 PM | House Democrats are holding a press conference

House Minority Leader Nancy Pelosi is calling for a "straight up-or-down" vote on the fiscal cliff deal.?

"There shouldn't even be a question," Pelosi said. "It's long overdue for us to have a solution."?

"We expect ? and the American people deserve ? an up-or-down vote."?

3:08 PM | There are growing concerns that the Senate will pass a bill.

Based on tweets from politicos and reporters, such as Ed Henry from?Fox News?there are growing concerns that the House will actually pass the Senate bill:

It's not surprising that there are concerns.

As we explained here, there's frustration about there being zero cuts.

And as the CBO just announced,?the bill adds $4 trillion to the current debt baseline. Any reversal of tax increases was always going to produce a huge deficit increase, but this is still a tough headline to swallow.

Source: http://www.businessinsider.com/will-house-gop-torpedo-the-fiscal-cliff-deal-2013-1

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