Washington (CNN) - The Senate's top Democrat and Republican are working this weekend to forge a compromise to prevent the country from going over the fiscal cliff, the combination of sweeping spending cuts and widespread tax increases that will otherwise take effect in days.

Senate Majority Leader Harry Reid, D-Nevada, on late Friday afternoon called the next 24 hours "very important" in the grueling effort to avert a crisis that has been two years in the making. House Speaker John Boehner has called on the Senate to go first, and then his chamber - which reconvenes Sunday - will act.
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