House Republicans eye limited fiscal cliff bill

WASHINGTON (Reuters) – With time running short before a Dec. 31 deadline, House of Representatives Speaker John Boehner will begin work on legislation that simply would extend current low income tax rates for all families with incomes below $1 million a year, according to an aide. Negotiations will continue with the White House on a broader tax and spending deal, the Boehner aide said. Boehner is presenting the plan to rank-and-file Republicans in a closed-door session. On January 1, income tax increases for most Americans will begin unless Congress acts. …