“Senate Majority Leader Harry Reid said Tuesday that “fiscal cliff” talks have made “little progress,” sending stock prices down, while Senate Republican Leader Mitch McConnell ripped into President Barack Obama for planning to hit the road to promote his tax agenda.
Reid said he was disappointed that little progress had been made in the debt talks.
“They talked some happy talk about doing revenues, but we only have a couple weeks to get something done,” Reid said about Democrats’ negotiations with Republicans. “So we have to get away from the happy talk and start talking about specific things.”
Despite his tone of frustration, Reid also said he is optimistic that lawmakers ultimately will reach a deal to head off the Jan. 1 convergence of $600 billion in tax increases and spending cuts that threatens to trigger another recession.
“I’m extremely hopeful, and I do not believe that the Republicans are going to allow us to go over the cliff,” Reid said.
He said he hoped Republicans can agree to tax rate increases and that Democrats were happy to deal with entitlements.”
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