President To Hold News Conference, Address 'Fiscal Cliff'

By: Associated Press Email
By: Associated Press Email

WASHINGTON (AP) - President Barack Obama is lobbying business and labor groups to support his plan to avoid an impending fiscal cliff, telling the two sides he remains committed to requiring the wealthy to pay more in taxes.

Obama was meeting Wednesday with about a dozen business executives as the White House and Congress face a series of expiring tax cuts and across-the-board spending cuts scheduled to take effect Jan. 1.

Business groups want an agreement on the debt before the end of the year, warning that the uncertainty could roil the financial markets and harm the economic recovery.

Obama was expected to speak in greater detail on the year-ending lame-duck session during a White House news conference Wednesday.


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
Gray Television, Inc. - Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 179265921 - kolotv.com/a?a=179265921