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Reid: Looks like 'we're headed' over the 'cliff'

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Speaking on the Senate floor, Reid castigated Speaker John Boehner (R-Ohio) for sending members of the House back to their districts last week after he was forced to scrap his “Plan B” tax plan for lack of support.

The Democratic leader said that even if Boehner agreed to hold a vote extending the Bush tax rates for income up to $250,000 — as Democrats have demanded to avoid one part of the fiscal cliff — it might not make it through Congress in time to prevent tax increases from beginning next year.

“I have to be honest — I don’t know, time-wise, how it can happen now,” Reid said.

Read more on The Hill's Floor Action Blog.