Senate Dems Balk At Last-Minute GOP Fiscal Cliff Demand
Late night and early morning negotiations between Senate Minority Leader Mitch McConnell and Vice President Joe Biden brought the parties closer to a consensus on how to avoid the fiscal cliff — a deal that includes potential Democratic revenue concessions and a GOP agreement to green light new spending without offsetting budget cuts.
But at least one key substantive issue remains, and on Monday morning, a leading liberal senator suggested he might quash the agreement, if it ever reaches the floor as legislation.
“There is definitely no deal yet,” said a senior Democratic aide. “Republicans are pushing a three-month sequester turnoff which Democrats cannot accept because it just kicks the can down the road.”
Republicans hope to defuse the tax piece of the fiscal cliff and delay its spending cut provisions until early next year, at around the time when the debt limit will have to be increased, and Congress will have to appropriate funds to run the federal government.