The House Republican Caucus is scheduled to meet at 5:15 EST—their second meeting of New Year’s Day—to figure out what to do with the Senate-passed tax package. Of the three options available to them—pass the Senate bill, reject it, or send it back to the Senate with perilous amendments—the first option seems least likely at the moment, after House Majority Leader Eric Cantor came out against the deal earlier today. The third option, unless House GOPers just engage in some symbolic spending-cut measures that don’t particularly offend Democrats, is very likely to blow things up.
This Congress is scheduled to end on Thursday at Noon, so it’s beginning to look increasingly possible that the whole negotiation process will have to begin again with a slightly different configuration of players.
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