Democratic aide: Fiscal ‘cliff’ deal reached
WASHINGTON — A Democratic aide says the White House and congressional Republicans have reached an agreement to avert the so-called fiscal cliff of impending tax hikes and spending cuts.
The measure would extend George W. 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.