The final weekend has now arrived before the fiscal cliff hits on New Year's Day, and, with it, more than $600 million in tax hikes and spending cuts.
In a last bid for a deal, President Obama stated his terms face to face to top Republicans and Democrats.
Congressional leaders arrived at the White House this afternoon for their first group meeting with the president since Nov. 16. Vice President Biden and Treasury Secretary Timothy Geithner also attended. But there was little to suggest the makings of an 11th-hour bargain.
Instead, a source familiar with the meeting told the NewsHour the president is sticking with his offer from last Friday. It included keeping the Bush era tax break for the middle class, but raising tax rates on incomes over $250,000 a year. The president also wants to extend unemployment benefits for some two million Americans who will lose them in the new year.
And the proposal would delay any spending cuts. The president asked for an up-or-down vote on his plan unless there is a counterproposal that will pass both the House and Senate. A little more than an hour after the meeting began, several participants were seen leaving.
And back at the Capitol, the Senate's Democratic majority leader, Harry Reid, and Republican Minority Leader Mitch McConnell offered their takes on the meeting.
Read more: Lawmakers Meet With President in Last-Ditch Effort to Avert the 'Fiscal Cliff' | PBS NewsHour | Dec. 28, 2012 | PBS
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