“Little Progress” on Budget as Fiscal Cliff Looms Ahead

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.