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"Little Progress" on Budget as Fiscal Cliff Looms Ahead

November 28, 2012
Senate Majority Leader Harry Reid said Democrats and Republicans have made little headway in negotiations over how to avoid a year-end fiscal cliff.

"There's been little progress with the Republicans, which is a disappointment to me," Reid, a Nevada Democrat, told reporters today in Washington.

Reid said that following a Nov. 16 White House meeting, Republicans backed away from earlier openness to considering new tax revenue as part of a year-end deal to avert the so-called cliff, $607 billion in tax increases and spending reductions set to begin in January.
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