“Fiscal cliff” deal closer, but gaps remain
WASHINGTON (Reuters) – After making major concessions on long-held "fiscal cliff" positions, President Barack Obama and House of Representatives Speaker John Boehner will test the reaction Tuesday of their respective parties in the U. S. Congress and continue talks aimed at further narrowing their differences. The effort is designed to avert the steep tax hikes and across the board spending cuts set to take effect unless a deal is enacted into law before December 31. Enactment would require a buy-in by the full U. S. Senate and House on whatever Obama and Boehner present to them. . . .
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