President Obama FISCAL CLIFF Remarks Negotiations Ongoing 'We May Still Reach Agreement by Deadline' With "fiscal cliff" talks going to the wire, President Barack Obama said Friday he was optimistic that an agreement can be reached in time to avert the automatic tax increases and spending cuts that could throw the economy back into recession. Obama spoke at the White House after a late afternoon meeting with bipartisan congressional leaders. He called the talks "good and constructive." "I'm optimistic we can still reach a decision in time," Obama told reporters. THE IS A BREAKING NEWS STORY, WILL BE UPDATED. President Barack Obama is holding firm on a tax break only for families making up to $250000 a year, CNBC learned Friday, as a bipartisan group of congressional leaders met for an hour at the White House for a last-ditch effort to avoid the "fiscal cliff." "I am hopeful and optimistic," Senate Republican Leader Mitch McConnell said after what he called a "good" meeting. He said he hoped Senate leaders can make recommendations by Sunday, when the House reconvenes. Senate Majority Leader Harry Reid called the talks "very constructive," and that the next 24 hours were going to be crucial. "We hope that it will bear fruit, but that is what we hoped a lot," he said. House Speaker John Boehner's office said the group agreed that the next step should be the Senate taking bipartisan action. And Don Stewart, a spokesman for McConnell, said: "Members of the Senate will continue ...

• published: 28 Dec 2012
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• author: UpdateNews13