“Democratic and Republican sources involved in negotiations reported some progress Friday toward a potential deal averting the “fiscal cliff” ahead of an afternoon summit at the White House between President Barack Obama and congressional leaders.
Negotiations revolve around permitting taxes to rise to Clinton-era levels on incomes above $400,000, the level in Obama’s last offer to Republican House Speaker John Boehner before their negotiations fell apart earlier this month. Such a deal would also extend unemployment benefits and delay the imposition of across the board budget cuts….”
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