Working against a midnight deadline, negotiators for the White House and congressional Republicans narrowed their differences Monday on legislation to avert across-the-board tax increases, the Associated Press reports.
Congressional officials familiar with talks said one major remaining sticking point was whether to postpone spending cuts that are scheduled to begin on Jan 1.
Republicans want to replace across-the-board reductions with targeted cuts elsewhere in the budget, and the White House and Democrats were resisting. At the same time, Democrats said the two sides were closing in on an agreement over taxes.
Do you think an agreement will be reached today and we will avoid the fiscal cliff?