Monday, December 31, 2012

Washington Could Hold Last-Minute Votes To Avoid Fiscal Cliff

With a new-year's deadline inching closer, Senate majority leader Harry Reid and minority leader Mitch McConnell are trying to hammer out a deal to avoid going over the fiscal cliff.

Reid and McConnell worked for part of Saturday to find a compromise.

They are trying to avoid middle-class tax hikes, extend unemployment benefits and delay spending cuts.

President Barack Obama said Friday if no long-term deal can be reached, he wants a simple up-or-down vote on a basic package to protect Americans.

In his weekly address, Obama was critical of lawmakers for waiting until the last minute to find common ground.

The Senate could vote on a plan as early as today if one is reached.

The House of Representatives will be back in the Capitol today in the event a vote is needed.

Without a deal, a series of automatic tax hikes and spending cuts would take effect on Tuesday.

Source: http://www.ny1.com/content/top_stories/174745/washington-could-hold-last-minute-votes-to-avoid-fiscal-cliff

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