NEW YORK ( TheStreet) -- The stock market had been moving higher this week on optimism that President Obama and House Speaker Boehner could forge a compromise to end the fiscal cliff. The president raised his income threshold from $250,000 to $400,000.Speaker Boehner responded with his "Plan B" plan with a willingness to raise tax rates on Americans making more than a million bucks. Investors and traders assumed that when "Plan B" passed a House vote that a compromise income threshold could be negotiated by the end of the year preventing the fiscal cliff. Last night Speaker Boehner canceled a House vote on "Plan B" as the deal did not have enough yea votes to pass.
Santa Claus Rally Skids Toward Fiscal Cliff
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