Obama On Cliff Talks: “Good And Constructive Discussion”
The president says he is “optimistic” there is an agreement that can pass both houses of Congress. If an agreement can’t be reached in time, President Obama says he will urge Senate Majority Leader to bring a basic package to the Senate for an up or down vote.
“Senators Reid and McConnell are discussing a potential agreement,” said the president, “but given the way things are working in the town, we have to wait and see” exactly what is going to happen.
The “bare minimum” to be accomplished before the first of the year would involve keeping tax rates the same for those under $250,000 a year and extend unemployment insurance, and holding off the deeper cuts until a broader agreement can be reached.