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Report: WH, Lawmakers Hold Weekend Fiscal Cliff Summit

John Boehner

President Barack Obama met with congressional leaders over the weekend to discuss how the country can avoid the fiscal cliff, Reuters reports.

The cliff is scheduled to kick in Jan. 2 through $600 billion in tax increases and $109 million in spending cuts under sequestration, Mark Felsenthal writes.

Felsenthal reports Obama met with House Speaker John Boehner (R-Ohio) over the weekend and also spoke with Senate Majority Leader Harry Reid (R-Nev.).

Obama, Boehner, Reid, Senate Minority Leader Mitch McConnell (R-Ky.), House Minority Leader Nancy Pelosi (D-Calif.) and other top lawmakers met shortly before Thanksgiving, representing the first time such a meeting took place since the election.

That meeting resulted in attendees agreeing to work on a framework for reforming entitlements and taxes.

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