Obama says immediate action needed on fiscal cliff

Obama says immediate action needed on fiscal cliff

Posted: Updated:

President Barack Obama says "the hour for immediate action is here" on a deal to avert the fiscal cliff.

The president says he remains "optimistic" that an agreement can be reached in Congress before a looming year-end deadline to avoid tax increases and spending cuts.

If Congress can't reach a deal, the president says Congress should allow a vote on a basic package that would preserve tax cuts for middle-class Americans while extending unemployment benefits for the long-term jobless and working toward a foundation for a broader deal.

The president says an hourlong meeting Friday with congressional leaders was "good and constructive."

Senate leaders say they hope to reach a compromise that could be presented to lawmakers by Sunday, little more than 24 hours before the deadline.

  • Politics NewsMore>>

  • Mayors' group pushes for pension reform

    Mayors' group pushes for pension reform

    Monday, April 21 2014 12:04 PM EDT2014-04-21 16:04:17 GMT
    money-roll-genericmoney-roll-generic
    More than two dozen Illinois mayors are set to hold a news conference, hoping to encourage state lawmakers to make changes to pension systems for local police and fire departments.
    More than two dozen Illinois mayors are set to hold a news conference, hoping to encourage state lawmakers to make changes to pension systems for local police and fire departments.
  • US Sen. Durbin says he's taking Oberweis seriously

    US Sen. Durbin says he's taking Oberweis seriously

    Sunday, April 20 2014 11:10 AM EDT2014-04-20 15:10:55 GMT
    U.S. Sen. Dick Durbin says he's taking his opponent in the November election more seriously than any challenger since he first was elected to the Senate.
    U.S. Sen. Dick Durbin says he's taking his opponent in the November election more seriously than any challenger since he first was elected to the Senate.
  • Quinn: Tighter controls after Medicaid paid $12M for Illinois dead

    Quinn: Tighter controls after Medicaid paid $12M for Illinois dead

    Saturday, April 19 2014 9:57 PM EDT2014-04-20 01:57:44 GMT
    The state of Illinois is trying to recoup roughly $12 million its Medicaid program paid in medical services for dead recipients.
    The state of Illinois is trying to recoup roughly $12 million its Medicaid program paid in medical services for dead recipients.
Powered by WorldNow
Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices