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Fiscal Cliff Headlines

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McConnell: Obama to meet Hill leaders on Friday

Updated: Thursday, 27 Dec 2012, 5:58 PM CST
Published : Thursday, 27 Dec 2012, 5:58 PM CST

WASHINGTON (AP) - The Senate's top Republican says President Barack Obama has asked congressional leaders to convene at the White House for last-minute talks on a deal that avoids automatic tax increases and broad spending cuts.

Senate Minority Leader Mitch McConnell says the leaders are expected to meet with the president Friday, just four days before the government goes over the so-called "fiscal cliff" if Congress and Obama don't act.

The meeting would be the first time Obama has huddled with all four leaders since Nov. 16 and would represent that last hope for a deal before the new year. Obama spoke to each leader individually Wednesday before returning from vacation in Hawaii.

Obama and congressional Democrats want a deal that would let tax rates rise for the wealthiest taxpayers.