WASHINGTON -- The House will miss the midnight Monday deadline lawmakers set for voting to avoid the "fiscal cliff."
House Republicans notified lawmakers that the chamber will vote Monday evening on other bills. They say that will be their only votes of the day.
President Barack Obama and Senate Republican leader Mitch McConnell said Monday they are near a deal to avoid wide-ranging tax increases and spending cuts - the fiscal cliff - that take effect with the new year.
Both men said they were still bargaining over whether - and how - to avoid $109 billion in cuts to defense and domestic programs that take effect on Wednesday.
It remained unclear whether the Senate would vote Monday.
Congress could pass later legislation retroactively blocking the tax hikes and spending cuts.
WASHINGTON -- Senate Minority Leader Mitch McConnell says he and the White House have agreed on preventing tax hikes that the "fiscal cliff" will trigger after midnight. And he says they are very close to an overall deal that would also prevent budget-wide spending cuts.
The Kentucky Republican did not provide any details. But he said on the Senate floor that lawmakers should pass legislation averting tax increases that would otherwise take effect at the start of New Year's Day.
McConnell spoke after President Barack Obama said in televised remarks from the White House that a deal was in sight.
WASHINGTON -- President Barack Obama says a deal to avert across-the-board tax hikes and programs cuts is "within sight, but not done."
The president offered the update during a White House news briefing with a group of middle-income Americans standing with him. He said the last thing people want to hear on New Year's Eve is "another speech," but that he had to "talk about progress being made."
Obama said middle class families, businesses and the nation can't afford the kind of tax hikes that would go into effect tomorrow if there is no agreement. He called that possibility "a pressing concern on people's minds."
People aware of the talks say the potential agreement would extend tax cuts to households earning up to $450,000 but that divisions remain over spending cuts.
The president said the potential agreement would extend unemployment benefits for 2 million people. Obama said the deal would also include the extension of numerous tax credits including those for college tuition, families with children and clean energy.
Obama said he would have preferred "a grand bargain" to solve of the tax and spending problems but is hopeful Congress will approve the proposal being shaped.
To comment, the following rules must be followed:
Comments may be monitored for inappropriate content, but the station is under no legal obligation to do so.
If you believe a comment violates the above rules, please use the Flagging Tool to alert a Moderator.
Flagging does not guarantee removal.
Multiple violations may result in account suspension.
Decisions to suspend or unsuspend accounts are made by Station Moderators.
Questions may be sent to firstname.lastname@example.org. Please provide detailed information.