Deal To Avert ‘Fiscal Cliff’ Appears Likely

December 31, 2012 7:20 PM

The Capitol is illuminated in Washington, where the House and Senate remain in session. The two chambers will miss a deadline to avoid the “fiscal cliff” tonight, as 2013 begins.

The Capitol is illuminated in Washington, where the House and Senate remain in session. The two chambers will miss a deadline to avoid the "fiscal cliff" tonight, as 2013 begins.
Drew Angerer/Getty Images

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.

Senate Majority leader Harry Reid and House Minority Leader Nancy Pelosi have signed off on the agreement, which calls for a two-month deferral of the automatic spending cuts known as the sequester. The source says the cuts will be paid for half with revenue and half with more targeted spending cuts.

President Obama during his appearance this afternoon. Continue reading “Deal To Avert ‘Fiscal Cliff’ Appears Likely”