House Republicans emerged from their caucus meeting with a majority reportedly opposing the Senate’s fiscal cliff deal. Among its opponents is House Minority Leader Rep. Eric Cantor. He told CNN that he opposes the bill but “no decisions have been made.” House Speaker Boehner is said to be lukewarm at best to the deal as well. There appears to be a building consensus to amend the Senate build and then send it back over to that side of Congress.
Today is Tuesday. The new Congress will be sworn in on Thursday. At that point, the Senate’s deal will expire if it has not passed both houses of Congress and been signed into law. So the House could conceivably delay the Senate deal for a day and half while they amend it, effectively killing it and forcing the process to reboot. The downside to that approach is that in the 113th Congress, there will be a few more Democrats in the House than there have been in the 112th. The Democrats also picked up two seats in the new Senate.