Congressional leaders and senior aides huddled on Saturday in a last-minute attempt to iron out a resolution in the so-called “fiscal cliff” crisis. But a deal — at least for the time being — seemed far from certain.
The rare weekend negotiations come on the heels of a meeting held at the White House on Friday as part of a last-ditch effort to resolve the looming fiscal crisis. If lawmakers do not come to an agreement in the next few days, taxpayers in all income brackets would see an increase in taxes and a slew of spending cuts would kick in.
A Senate aide with knowledge of the talks said late Saturday afternoon there is “no major progress.”
One sticking point in the talks continues to be on taxes, according to aides. President Obama has reiterated that tax cuts should extend to the middle class, asking top earners to pay more in taxes. But Republicans have insisted that tax cuts be extended for all taxpayers.