The Republicans MUST vote on their Tax Proposal. They must allow the Senate and Obama to block it and then step aside and simply refuse to vote on the Democrat proposal. Once they have voted their proposal into law they will own it and its consequences.
The Democrats refuse to countenance any and all cuts in spending and indeed want to institute further spending and borrowing. The consequences will be a disaster, America's credit rating will be cut further, the dollar will be further devalued forcing up the cost of commodities world wide increasing inflation and reducing their standard of living. This will not end well.