
Washington (CNN) – Fiscal cliff negotiations between Vice President Joe Biden and Senate Minority Leader Mitch McConnell made significant progress and the two sides are now closer to a deal than they were Sunday, according to sources close to the process.
Thus far the potential agreement includes allowing top tax rates to return to Clinton-era levels, an extension of unemployment insurance and an agreement to increase the estate tax, though there would likely be a compromise to keep it from jumping to pre-bush policy levels, said a source familiar with the negotiations.
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Washington (CNN) - Senate leaders indicated Sunday that talks to avert the fiscal cliff have come to gridlock, as the upper chamber convened for a special session in hopes of passing a deal by the end-of-the-year deadline.
Republican Leader Mitch McConnell said on the Senate floor he has placed a call to Vice President Joe Biden to see if "he could help jump-start negotiations on his side."
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Washington (CNN) - Congressional leaders spoke Friday after meeting about the fiscal cliff with President Barack Obama at the White House.
Congressional leaders attending the meeting was Senate Majority Leader Harry Reid, Senate Minority Leader Mitch McConnell, House Speaker John Boehner, and House Minority Leader Nancy Pelosi. Vice President Joe Biden was to be in attendance, the White House said, and an administration official said Treasury Secretary Timothy Geithner would attend as well.
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(CNN) - Seeking to raise pressure on President Barack Obama, top Republican leaders in Congress called on the White House Tuesday to introduce serious cuts in the ongoing negotiations to avert the fiscal cliff.
"Where are the president's spending cuts? The longer the White House slow-walks this process, the closer our economy gets to the fiscal cliff," House Speaker John Boehner said during brief remarks on the House floor.
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