President Barack Obama and congressional leaders agreed Friday to work on a framework for reforming the U.S. tax code and entitlement programs, Reuters reports.
According to Richard Cowan’s report, this agreement came during the first meeting between Obama and top lawmakers from both parties since the election.
Attendees included House Speaker John Boehner (R-Ohio), Senate Majority Leader Harry Reid (D-Nev.), Senate Minority Leader Mitch McConnell (R-Ky.) and House Minority Leader Nancy Pelosi (R-Calif.), Cowan reports.
Citing a Boehner aide, Cowan reports those spending cuts would cover entitlement programs including Medicare and Medicaid.
The Friday meeting represented the first time the president and the top legislators met in a room together and struck a similar chord, Cowan reports, and could also represent how future talks could go on averting the fiscal cliff.