Ryan to vote yes on 'Plan B' tax plan

Rep. Paul RyanPaul RyanSenate feels pressure for summer healthcare vote What to watch for in new healthcare score Overnight Finance: Inside Trump's first budget | 66 programs on the chopping block | Hearing highlights border tax divide | Labor to implement investment adviser rule MORE (R-Wis.), the House Republican budget chief and 2012 vice presidential nominee, will support Speaker John BoehnerJohn BoehnerLobbying World Jordan won't run for Oversight gavel Oklahoma rep. launches long-shot bid for Oversight chair MORE’s (R-Ohio) “Plan B” legislation that would allow taxes to rise on income over $1 million, a spokesman told The Hill on Wednesday.

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“Chairman Ryan will continue to work to protect as many Americans as possible from tax hikes,” Ryan aide Conor Sweeney said. “Chairman Ryan believes that Speaker BoehnerJohn BoehnerLobbying World Jordan won't run for Oversight gavel Oklahoma rep. launches long-shot bid for Oversight chair MORE’s ‘Plan B’ meets that criteria.”

Ryan, chairman of the House Budget Committee, has kept a low profile on Capitol Hill since the election and had not commented on Boehner’s proposal, which seeks to make current tax rates for income below $1 million permanent.

Boehner has kept Ryan in the loop on his negotiations with President Obama by inviting him and two other senior committee chairmen to daily planning sessions with the House Republican leadership team.

Conservative groups including Heritage Action and the Club for Growth are rallying against the Speaker’s plan because it increases taxes. Grover Norquist’s Americans for Tax Reform gave its blessing to the proposal on Wednesday, saying it would not violate the pledge that most Republicans have taken to oppose tax increases.