Corker Bets His Life on Tax Deal — Allows a Wide Window for the Wager

“I would bet my life,” Sen. Robert Corker said today, that most Americans will be “rescued” from tax increases — either by New Year’s Eve or within the next couple weeks.

“We’re going to deal with this tax issue, either by midnight tomorrow or in the next couple weeks,” Corker, a Tennessee Republican, said on CNN’s “State of the Union” today, as the House prepares for an evening session with little more than 24 hours left before tax increases and automatic spending cuts take effect.

The cutoff for who is taxed more and who isn’t probably will fall somewhere between President Barack Obama’s long-held stance of $250,000 in household income — and his offer of a $400,000 cutoff in talks with House Speaker Boehner — and the speaker’s counter-offer of $1 million in household income — an offer that flopped within his own House Republican caucus.

$500,000, says Corker, voicing certainty a deal will be done.

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