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Boehner: Obama should support fiscal cliff plan

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December 19, 2012 02:32 PM EST | AP

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WASHINGTON — House Speaker John Boehner says President Barack Obama should support a Republican plan to avoid January tax increases on everyone but those earning over $1 million. Boehner says if Obama doesn't support the measure, the president will be responsible for what he calls "the largest tax increase in American history."

Boehner spoke to reporters Wednesday at the Capitol after Obama said he believed a deal with the speaker was close to avoid the "fiscal cliff" – huge tax boosts and spending cuts taking effect in January unless lawmakers head them off.

Obama and Boehner have yet to produce a compromise. Boehner plans a House vote Thursday on his Plan B – which would head off most of the tax increases. The White House says Obama would veto that measure.