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Reid, McConnell agree to try to move forward to avert worst effects of 'fiscal cliff'

Friday, December 28, 2012 6:10:48 PM

National News Alert

Reid, McConnell agree to try to move forward to avert worst effects of 'fiscal cliff'

After meeting with President Obama at the White House, the top Democrat and Republican in the Senate said they will work through the weekend and bring senators back into session on Sunday in hopes of approving an agreement. Senate Minority Leader Mitch McConnell (R-Ky.) said he's "hopeful and optimistic." Speaking separately at the White House, Obama said he was "modestly optimistic that an agreement can be achieved."

The proposal would allow tax rates to increase for some upper-end taxpayers but the two sides are still divided over whether the cut off could be $250,000 or $400,000.

Read more at:
http://www.washingtonpost.com/politics/obama-biden-set-to-host-top-lawmakers-in-last-ditch-fiscal-cliff-talks/2012/12/28/de898ec8-50fc-11e2-8b49-64675006147f_story.html