NPR's coverage of President Obama's comments on the "fiscal cliff" talks
Update at 9:45 p.m. Deal Reached
Vice President Joe Biden was meeting late Monday with Senate Democrats to brief them on a proposed deal to stop sharp tax increases and spending cuts. A source told NPR the deal with congressional Democratic and Republican leaders includes a mix of both.
Well, here we are. It's New Year's Eve and with just hours to go before the end of the year and the arrival of the so-called fiscal cliff, Democrats and Republicans in Washington are still trying to strike a deal that heads off automatic increases in taxes, automatic deep spending cuts in a variety of programs and the automatic expiration of some jobless benefits.
It is almost unimaginable that both the House and Senate would be in session on a Sunday evening on the penultimate day of the year. And yet, they both were, with lawmakers hoping it was not merely a big waste of time and effort.
A bipartisan push by Senate leaders over the weekend has so far failed to forge a deal to spare American wage earners from tax hikes and shield government programs from drastic cutbacks.
This is WEEKENDS on ALL THINGS CONSIDERED from NPR News. I'm Jacki Lyden.
Time is quickly running out for Congress to strike a deal blocking automatic tax hikes and spending cuts that kick in within the New Year. Despite the presence of Vice President Joe Biden at the White House and a flurry of proposals passed back and forth today between Senate Republicans and Democrats, things seem to have reached an impasse this afternoon. Senate Majority Leader Harry Reid has said that nothing will happen this evening.