The United States government will miss the end of the year deadline to resolve the so-called fiscal cliff, House Republicans conceded on Monday afternoon.
The House of Representatives will adjourn December 31 without voting on a bill to delay the impending tax hikes and spending cuts that will take start to take place tomorrow. Majority Whip Kevin McCarthy (R-California), the party's whip, sent the following update to members on Monday afternoon.
Good afternoon. Thanks for your patience. Here's the latest on the Floor schedule:
There will be a Special GOP Conference Meeting at 5:00 p.m. in HC-5. Immediately following Conference tonight, roughly 5:30-6:00 p.m. we will have our first and only vote series of the day on suspensions.
Walk off the Floor: 6:00-6:30 p.m.
The December 31 deadline is a soft deadline and will mean very little as far as a final outcome. A deal will be struck in Q1 2013 that will reverse most of the cliff kick-ins.
Bottom line: More useless drama. Your taxes will ultimately be higher, whatever the deal.
House Members also advised by Whip's office to "stay close to the Capitol tonight should any additional votes arise."
A Boehner aide says no legislative difference between voting on Cliff measure at 3AM tonight or midday tomorrow.