President says still issues to resolve in "Fiscal Cliff" talks - KNOE 8 News; KNOE-TV; KNOE.com |

President says still issues to resolve in "Fiscal Cliff" talks

Posted: Updated:

MONROE, La. (KNOE 8 News & CBS) - With the fiscal cliff clock continuing to tick, President Obama says Monday it appears a deal "is within sight, but it is not done."

Speaking at the White House amid a group of ordinary Americans, the President says "there are still issues left to resolve, but we're hopeful that Congress can get it done." He says the deal will likely include tax cuts extended towards tuition to pay for college, for clean energy and extend unemployment benefits to 2 million people still actively looking for jobs.

He says he was hoping to have passed a grand bargain, but said "with this congress" it wouldn't happen at this time. Both sides have been unable to make such a sweeping deal for more than a year, and they set the midnight deadline months ago as motivation.

Officials familiar with Monday's negotiations said an agreement would address the biggest issue by raising tax rates on family income over $450,000 a year. But how to handle deep spending cuts remained a problem. The contours of a deal to avert the so-called "fiscal cliff" were emerging.

Officials familiar with the negotiations said the agreement would raise tax rates on families making over $450,000 a year to 39.6 percent. The tax on estates worth more than $5 million would increase to 40 percent from 35 percent.

But the officials said the White House and Republicans were at an impasse over what to do about automatic, across-the-board spending cuts set to start taking effect Tuesday. Democrats want to put off the cuts for one year and offset them with unspecified revenue.

Urgent talks continued between the White House and congressional Republicans, with longtime negotiating partners Vice President Joe Biden and Senate Republican leader Mitch McConnell leading. The deal would achieve about $600 billion in new revenue, the officials said.

  • Most Popular StoriesMost Popular StoriesMore>>

  • Man snatches purse of 75 year old woman at Glenwood Hospital

    Man snatches purse of 75 year old woman at Glenwood Hospital

    Monday, September 1 2014 10:13 PM EDT2014-09-02 02:13:05 GMT
    WEST MONROE, La. (KNOE 8 News) - A West Monroe man was arrest early Monday morning for snatching the purse of a victim over 65 years old.
    WEST MONROE, La. (KNOE 8 News) - A West Monroe man was arrest early Monday morning for snatching the purse of a victim over 65 years old.
  • Abortion law effective today, temporarily lifted for physicians that are in compliance

    Abortion law effective today, temporarily lifted for physicians that are in compliance

    Monday, September 1 2014 10:04 PM EDT2014-09-02 02:04:54 GMT
    MONROE, La (KNOE 8 News)- The never ending fight over abortion continues.
    MONROE, La (KNOE 8 News)- The never ending fight over abortion continues.
  • Black bear plays hide-and-seek in Winnsboro

    Black bear plays hide-and-seek in Winnsboro

    Sunday, August 31 2014 3:16 PM EDT2014-08-31 19:16:24 GMT
    WINNSBORO, La. (KNOE 8 News) - One KNOE viewer sent in some cute video of what looks to be a Louisiana Black Bear hanging out in a rice field.
    WINNSBORO, La. (KNOE 8 News) - One KNOE viewer sent in some cute video of what looks to be a Louisiana Black Bear hanging out in a rice field.
  • Man accused of stabbing his nephew

    Man accused of stabbing his nephew

    Monday, September 1 2014 4:10 PM EDT2014-09-01 20:10:07 GMT
    MONROE, La. (KNOE 8 News) - Monroe Police have arrested a Monroe man for stabbing his nephew. Police say the Donald Ray Myles and victim got into an altercation Thursday night around 10:30. Police say Myles stabbed the victim with a steak knife, and then the victim was rushed to the hospital. 
    MONROE, La. (KNOE 8 News) - Monroe Police have arrested a Monroe man for stabbing his nephew. Police say the Donald Ray Myles and victim got into an altercation Thursday night around 10:30. Police say Myles stabbed the victim with a steak knife, and then the victim was rushed to the hospital. 
  • Two suspects wanted for armed robbery

    Two suspects wanted for armed robbery

    Monday, September 1 2014 12:07 PM EDT2014-09-01 16:07:03 GMT
    MONROE, La. (KNOE 8 News) - Monroe police are looking for two suspects that robbed a Kangaroo convenient store. Police say two black males entered the store, located at 4320 Desaird Street, around 3:15 Friday morning. They say the suspects robbed the store at gun point and police were able to able to get a photo of one suspect. That suspect is described as a younger black male over six feet and it appears he is wearing a Neville sweatshirt. He is considered armed and dangerous. 
    MONROE, La. (KNOE 8 News) - Monroe police are looking for two suspects that robbed a Kangaroo convenient store. Police say two black males entered the store, located at 4320 Desaird Street, around 3:15 Friday morning. They say the suspects robbed the store at gun point and police were able to able to get a photo of one suspect. That suspect is described as a younger black male over six feet and it appears he is wearing a Neville sweatshirt. He is considered armed and dangerous. 
  • New S. Louisiana complex brings a job windfall to the state

    New S. Louisiana complex brings a job windfall to the state

    Monday, December 3 2012 12:34 PM EST2012-12-03 17:34:16 GMT
    WESTLAKE, La., (KNOE 8 News) - New complex in South Louisiana to bring more than 7,000 jobs to the area.
    WESTLAKE, La., (KNOE 8 News) - New complex in South Louisiana to bring more than 7,000 jobs to the area.
  • 49ers linebacker Aldon Smith suspended by NFL

    49ers linebacker Aldon Smith suspended by NFL

    Friday, August 29 2014 9:30 PM EDT2014-08-30 01:30:05 GMT
    San Francisco 49ers linebacker Aldon Smith has been suspended for nine games by the NFL after a series of off-field legal issues.
    The San Francisco 49ers have been preparing for months to play on without Aldon Smith over an extended period.
  • Second arrest made in April 2013 murder

    Second arrest made in April 2013 murder

    Saturday, August 30 2014 3:00 PM EDT2014-08-30 19:00:56 GMT
    MONROE, La. (KNOE 8 News) - A second arrest has been made in the April 2013 murder of Steve Brown.
    MONROE, La. (KNOE 8 News) - A second arrest has been made in the April 2013 murder of Steve Brown.
Powered by WorldNow
All content © Copyright 2000 - 2014 WorldNow and KNOE. All Rights Reserved.
For more information on this site, please read our Privacy Policy and Terms of Service.