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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.