Obama Says Deal to Avert Fiscal Cliff is 'Within Sight' But Not Done Yet

By: AP Email
By: AP Email

WASHINGTON (AP) - Obama says deal to avert fiscal cliff is 'within sight' but not done yet.

The president offered the update during a White House news briefing with a group of middle-income Americans standing with him. He said the last thing people want to hear on New Year's Eve is "another speech," but that he had to "talk about progress being made."

Obama said middle class families, businesses and the nation can't afford the kind of tax hikes that would go into effect tomorrow if there is no agreement. He called that possibility "a pressing concern on people's minds."

People aware of the talks say the potential agreement would extend tax cuts to households earning up to $450,000 but that divisions remain over spending cuts.

The president said the potential agreement would extend unemployment benefits for 2 million people. Obama said the deal would also include the extension of numerous tax credits including those for college tuition, families with children and clean energy.

Obama said he would have preferred "a grand bargain" to solve of the tax and spending problems but is hopeful Congress will approve the proposal being shaped.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 185303542 - kolotv.com/a?a=185303542
Gray Television, Inc.