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Democratic aide saying deal reached to avert fiscal cliff

9:38 PM, Dec 31, 2012   |    comments
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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.

The Associated Press

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