Speaker of the House John Boehner, R-Ohio, said Tuesday that House Republicans would introduce a bill to raise tax rates for millionaires as a “Plan B” in case his negotiations with President Obama on averting the fiscal cliff fail to produce an agreement.

At a press conference with Republican leaders, Boehner insisted Republicans would continue to work with the White House to find a balanced solution to the “fiscal cliff” that also cuts spending. But in the meantime, Boehner said, the House would soon hold a vote in an effort to protect as many American taxpayers as possible from the tax hikes scheduled to hit on January 1.

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