Close but no deal on 'fiscal cliff' - KTIV News 4 Sioux City IA: News, Weather and Sports

Close but no deal on 'fiscal cliff'

Posted:
The deal is hung up in a dispute over spending cuts. The deal is hung up in a dispute over spending cuts.

The sides are very close in the fiscal cliff talks, with the White House and congressional Republicans agreeing Monday to block across-the-board tax increases set for midnight.

The deal is hung up in a dispute over spending cuts.

While the deadline to prevent tax increases and spending cuts is technically midnight, passage of legislation by the time a new Congress takes office on Thursday would eliminate or minimize any inconvenience for taxpayers.

The House will not vote before midnight on the cliff deal and it's unclear if the Senate will vote Monday.

Powered by Frankly