by Bill McBride on 12/30/2012 11:30:00 AM
Sunday, December 30, 2012
From the WaPo (updated): Senators trade proposals into night to avoid ‘fiscal cliff’ (ht black dog)
Reid and McConnell have set a deadline of about 3 p.m. on Sunday for cinching a deal. That’s when they’re planning to convene caucus meetings of their respective members in separate rooms just off the Senate floor. At that point, the leaders will brief their rank and file on whether there has been significant progress and will determine whether there is enough support to press ahead with a proposal.According to the article, the sticking points are taxes for high income earners and "how to tax inherited estates".
If all goes according to plan, the leaders would roll out the legislation Sunday night and hold a vote by at least midday Monday, giving the House the rest of New Year’s Eve to consider the measure.
Note: This type of "deadline" is just a target, and there probably won't be an update until later in the day.
Posted by Bill McBride on 12/30/2012 11:30:00 AM