Like energy drink-guzzling college students pulling an all-nighter, our federal lawmakers are up against the “fiscal cliff” deadline today. And who’s the man you call when you need real work to get done? Biden. Politico this morning reports Senate Minority Leader Mitch McConnell and the Veep have made “major progress” toward an accord:
McConnell and Biden, who served in the Senate together for 23 years, are closing in on an agreement that would hike tax rates for families who earn more than $450,000, and individuals who make more than $400,000, according to sources familiar with talks.
The vice president and the Senate minority leader only began talking Sunday, after negotiations between Senate Majority Leader Harry Reid (D-Nev.) and McConnell sputtered.
Sources close to the talks said a deal is now more likely to come together but cautioned that obstacles remain, including how Speaker John Boehner and House Republican leaders react to any tentative agreement.