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VOL. 36 | NO. 47 | Friday, November 23, 2012
Geithner, lawmakers ready for 'fiscal cliff' talks
WASHINGTON (AP) — Two of President Barack Obama's chief negotiators will meet on Thursday with congressional leaders to gauge prospects for a deal to avoid the "fiscal cliff."
Treasury Secretary Timothy Geithner and White House legislative chief Rob Nabors will meet separately House Speaker John Boehner, R-Ohio, Senate Republican leader Mitch McConnell of Kentucky, Senate Majority Leader Harry Reid, D-Nev., and House Democratic leader Nancy Pelosi of California.
The sessions are seen as an important step in determining how the government will avoid a year-end package of tax increases and spending cuts that could throw the economy into recession.
Republican lawmakers and the White House are at odds, in particular, over Obama's push to let tax cuts expire for wealthier Americans.
Obama has chosen to delegate discussions with lawmakers to his team until the makings of a deal firm up enough for him to engage directly. He met with the four leaders on Nov. 16 and spoke with Boehner and McConnell by phone last week.
The Treasury Department announced Thursday's meetings, which will take place on Capitol Hill.