the President and
leaders of Congress
who are meeting at this hour.
WASHINGTON — With congressional leaders set to trek over to the White House for perhaps the last high-stakes meeting before the fiscal cliff is hit, the contours of a last-ditch deal are faintly emerging.
The president will reportedly propose a scaled-down offer during that 3:00 p.m. meeting with House Speaker John Boehner (R-Ohio), Senate Minority Leader Mitch McConnell (R-Ky.), House Minority Leader Nancy Pelosi (D-Calif.) and Senate Majority Leader Harry Reid (D-Nev.). Meanwhile, on the Hill, various congressional aides outlined a proposal that had the potential to resolve the stand-off.
House Republicans expect Obama may offer to extend the Bush-era tax rates for incomes under $400,000, as he had done previously before negotiations blew up. The president had originally argued that any scaled-back deal should set that threshold at $250,000. Republicans still may insist that it be set at $500,000. FULL ARTICLE
By Amanda Terkel
WASHINGTON — As 2012 comes to a close, the 112th Congress is set to go down in American history as the most unproductive session since the 1940s.
According to a Huffington Post review of all the bills that hit President Barack Obama’s desk this session, Obama has signed 219 bills passed by the 112th Congress into law. With less than a week to go in the year, there are currently another 20 bills pending presidential action. In comparison, the last Congress passed 383 bills, while the one before it passed 460.
The 104th Congress (1995-1996) currently holds the ignominious distinction of being the least productive session of Congress, according to the U.S. House Clerk’s Office, which has records going back to 1947. Just 333 bills became law during that two-year period, meaning the 112th Congress needs to send nearly 100 more bills to Obama’s desk in the next few days if it wants to avoid going down in history — an unlikely prospect, considering that both chambers are squarely focused on averting the “fiscal cliff” before the new year. FULL ARTICLE
“Beware of False Prophets!”
By LEIGH ANN CALDWELL, NANCY CORDES /CBS NEWS/ December 27, 2012, 7:10 PM
With no deal imminent on the looming “fiscal cliff,” President Obama, who cut his Hawaiian vacation short today, has summoned congressional leaders to the White House for a seemingly last-ditch meeting on Friday, CBS News has learned.
The two key congressional leaders, Senate Majority Leader Harry Reid, D-Nev., and House Speaker John Boehner, R-Ohio, will be joined by Senate Minority Leader Mitch McConnell, R-Ky., and House Minority Leader Nancy Pelosi, D-Calif., at Friday’s 3 p.m. ET meeting, which marks the first time the four are meeting with the president since Nov. 16.
“[W]e’ll see what the President has to propose,” McConnell said in a statement. “Members on both sides of the aisle will review it, and then we’ll decide how best to proceed. Hopefully there is still time for an agreement of some kind that saves the taxpayers from a wholly preventable economic crisis.”