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Boehner plan ends tax cuts for rich, poor

By Stephen Ohlemacher
Published December 20, 2012 2:34pm ET
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Boehner plan ends tax cuts for rich, poor
House Speaker John Boehner of Ohio addresses reporters on the fiscal cliff negotiations on Capitol Hill in Washington, Wednesday, Dec. 19, 2012. Boehner says President Barack Obama should support a Republican plan to avoid January tax increases on everyone but those earning over $1 million. Boehner says if Obama doesn't support the measure, the president will be responsible for what he calls "the largest tax increase in history." (AP Photo/Jacquelyn Martin) | Jacquelyn Martin

WASHINGTON (AP) — Taxpayers making more than $1 million would get hit with tax increases averaging $100,000 next year under House Speaker John Boehner’s alternative tax bill, according to an independent analysis.

Some low-income people would get smaller tax increases because the plan would not renew several tax cuts first enacted as part of President Barack Obama’s 2009 economic stimulus package, according to the analysis by the Tax Policy Center, a joint venture of the Brookings Institution and the Urban Institute.

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