Politics
Sources say "fiscal cliff" deal has been reached
Posted: Dec 31, 2012 7:04 PM by Monica Gouty
Updated: Dec 31, 2012 7:04 PM
WASHINGTON (AP) - A Democratic aide says the White House and congressional Republicans have reached an agreement to avert the so-called fiscal cliff.
The measure would extend Bush-era tax cuts for family incomes below $450,000 and briefly avert across-the-board spending cuts set to strike the Pentagon and domestic agencies this week.
Vice President Joe Biden was set to sell the agreement to Senate Democrats at a meeting at the Capitol on Monday night.
The aide required anonymity because he wasn't authorized to speak publicly.
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