Pelosi: Republicans are ‘hostage taking’ on fiscal cliff [VIDEO]

Nicholas Ballasy Senior Video Reporter
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Accusing Republicans of “hostage taking,” House Minority Leader Nancy Pelosi urged members of Congress to sign a discharge petition that would require the House to vote on the extension of the Bush-era tax cuts only for annual incomes under $250,000.

“Everyone, 100% of the American people would benefit from it; 100% of taxpayers, small business, wage earners and the rest,” Pelosi said Tuesday on the House floor.

“The Republicans are saying rather than passing that, they want to hold it hostage to giving an additional tax cut to people making over $250,000 a year – that’s not negotiating, that’s hostage taking. So, today on the floor of the House, the Democrats have proposed a discharge petition.”

The petition needs 218 signatures to require a House vote on the Senate bill that extends the “middle income” tax rates only. Pelosi predicted that the legislation would receive “overwhelming support” in the House.

If the bill passed, it would force Congress to debate the expiration of cuts for families making over $250,000 separately in addition to the automatic spending cuts set to take effect at the start of next year and the debt limit increase.

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