Political Headlines December 31, 2012: President Barack Obama’s Speech on Fiscal Cliff: ‘Agreement Within Sight’

POLITICAL HEADLINES

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OBAMA PRESIDENCY & THE 112TH CONGRESS:

THE HEADLINES….

Obama on Fiscal Cliff: ‘Agreement Within Sight’

Source: ABC News Radio, 12-31-12

The White House

President Obama said an 11th-hour agreement to avert year-end tax hikes on 98 percent of Americans is “within sight” but not yet complete with just hours to go before the nation reaches the so-called fiscal cliff.

“There are still issues left to resolve but we’re hopeful Congress can get it done,” Obama said Monday at a White House news conference. “But it’s not done.”

Congressional and White House negotiators have forged the contours of an agreement that would extend current tax rates for households making $450,000 or less; raise the estate tax from 35 to 40 percent for estates larger than $5 million; and prevent the Alternative Minimum Tax from hammering millions of middle-class workers, sources said….READ MORE

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