10 things you need to know today: December 21, 2012

1. HOUSE GOP VOTE ON 'PLAN B' IS CANCELED ABRUPTLY

House Speaker John Boehner (R-Ohio) was forced to cancel a vote on his proposed fiscal cliff "Plan B" to raise taxes only on those making more than $1 million a year after he was unable to garner enough support for the measure. President Obama, who wants taxes raised on those making more than $400,000, had already said he would veto such a bill, and the Democratic-controlled Senate would not have passed it. Still, the canceled voted exposed the limits of Boehner's power in the House. "Now it is up to the president to work with Senator Reid on legislation to avert the fiscal cliff," Boehner said. A deal to avert the looming tax hikes and spending cuts set to hit Jan. 1 will now have to wait until after the holiday recess. [The Week]

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The National Rifle Association will hold a press conference Friday, its first since the Dec. 14 shooting at Sandy Hook Elementary School in Newtown, Conn., in which a rifle-wielding gunman killed 20 children and six adults. The 4.3-million-member NRA largely disappeared from public debate after the shootings, until releasing a statement on Tuesday, saying its members were "shocked, saddened and heartbroken by the news of the horrific and senseless murders in Newtown." The NRA also promised "meaningful contributions" to prevent future tragedies. [Associated Press]

On Friday, the White House released a video response to the more than 197,000 petitioners who have asked that the government act swiftly to implement legislation to limit gun access in the wake of the massacre in Newtown, Conn. "We hear you," said President Obama. Reiterating his belief in the Second Amendment as the right of Americans to bear arms, Obama said that he has asked Congress to take up and pass "common sense legislation that has the support of a majority of American people, including banning the sale of military-style assault weapons and high-capacity ammunition clips." He added that Vice President Joe Biden will lead an effort to draw up comprehensive legislation that will address improving mental health care and school safety. [USA Today]

Rival protesters clashed in Egypt's second city of Alexandria, the day before a second and final round of voting in the country's constitutional referendum. Riot police fired tear gas to quell street battles between Islamists and opposition demonstrators. The secular-leaning opposition sees the proposed constitution as weakening human rights and opening the way to sharia-style strict Islamic laws under President Mohamed Morsi. [AFP]

Malala Yousafzai, the 15-year-old Pakistani girl who was shot by Taliban militants in October, has asked that a school in Mingora not name itself in her honor because students there fear it would make them a Taliban target. Yousafzai intervened after the school was closed by violent demonstrations soon after a decision to rename it. "The protesters were not against Malala," said Kamran Rehman Khan, district coordination officer in Swat, "but [they] feared that the naming of the college could pose a serious security threat to them as well as their institution." [Telegraph]

Newark Mayor Cory Booker announced Thursday that he plans to run for Senate in 2014. He insisted that he is not yet launching a campaign, but that it's his "intention to run for U.S. Senate." Booker had been deciding whether to pursue a Senate run or a run against New Jersey Gov. Chris Christie, who is up for re-election next year. Recent polls showed Christie leading Booker 50 percent to 36 percent among the state's voters, but Booker said the numbers aren't what stopped him from running for governor, but rather that he wants to finish out his second term as Newark's mayor. [Star-Ledger]

Russian President Vladimir Putin criticized a European Union energy law — which seeks to create a single energy market and prevent those that dominate supply from also dominating distribution — as uncivilized. Russia is the EU's biggest natural gas supplier and in turn, the EU is Russia's biggest customer. However, an EU anti-trust case against Russian state giant Gazprom has strained relations. The two sides hold regular talks, as they will on Friday, though EU and Russian sources don't expect any progress in today's meeting. [Reuters]

Peter Madoff, the younger brother of imprisoned Ponzi schemer Bernie Madoff, was sentenced to 10 years in prison yesterday for his role in the $65 billion fraud. Peter, 67, pleaded guilty in June to criminal charges including conspiracy to commit securities fraud for falsifying the books and records of the investment advisory company founded by his brother. Bernie Madoff was sentenced to a 150-year prison term in 2009. [NBC News]

On Thursday night, just three days after announcing a new terms of service that would allow Instagram to sell users' photos, the CEO of the photo-sharing service announced that the company will be reverting to its old policy, which has been in effect since Instagram launched in October 2010. The move came after a backlash from users who threatened to shut down their accounts — and in some cases did — if the company followed through on its new policy. [CNET]

Frances is a senior editor at TheWeek.com, managing the website on the early morning shift and editing stories on everything from politics to entertainment to science and tech. She's a graduate of Yale and the University of Missouri journalism school, and has previously worked at TIME and Real Simple. You can follow her on Twitter and on Tumblr.