Nice to see yet another pundit ripping off my material! I said weeks ago that this is the most likely face saving scenario. Fiscal cliff hits Jan 1st; new law passed Jan 2nd. That way Dems get the tax rates they want while GOP can say they cut the existing rates that were in effect (for a day) at the time.
The author did miss a few important points though, which are 1) polls show the GOP is poised to take the blame for failure to resolve the crisis, and 2) Obama isn't up for re-election in two years. The GOP House is (as well as Dem senate, but not all of them). That leaves a lot more potential exposure on the Republican side for a party at record lows in popularity already.