CNBC reporter Eamon Javers tweets this quote from Democratic Senate Majority Leader Harry Reid on the Republican insurgency over House Speaker John Boehner’s initial fiscal cliff offer:
Photo: Twitter / @EamonJavers
Reid’s observation is salient, underscoring the quandary that Boehner faces as he tries to get his caucus to agree to a deal that will necessarily include new revenue. The House Speaker has already faced a swift backlash from conservative groups after presenting the GOP’s first counter-offer, which included $800 billion in additional revenues, achieved by cutting deductions and loopholes for high-income earners.
The reaction from the rank-and-file, though unsurprising, signals how difficult it will likely be to get Republicans in Congress to agree to any deal with the White House. While Republican leaders appear increasingly resigned to raising tax rates on those earning more than $250,000 — the sticking point for the Obama administration — it remains to be seen whether they will ever be able to sell it to the party rank-and-file.
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