House GOP plans vote on fiscal cliff 'Plan B'

WASHINGTON (AP) — The Republican-controlled House pushed ahead Thursday with a bill that would raise taxes on people earning over $1 million a year as hopes faded for a pre-Christmas deal between President Barack Obama and Speaker John Boehner to avert the so-called "fiscal cliff."

Senate Majority Leader Harry Reid, D-Nev., said lawmakers would return to the Capitol on the Thursday after the holiday as a grand bargain to avoid the automatic tax hikes and spending cuts proved elusive.