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>>

  • West Monroe man arrested for meth possession

    West Monroe man arrested for meth possession

    Sunday, July 27 2014 9:09 PM EDT2014-07-28 01:09:38 GMT
    WEST MONROE, La. (KNOE 8 News) - West Monroe Police arrested a man early Sunday morning for possession of drugs.
    WEST MONROE, La. (KNOE 8 News) - West Monroe Police arrested a man early Sunday morning for possession of drugs.
  • Retired deputy drowns trying to save terrier

    Retired deputy drowns trying to save terrier

    Sunday, July 27 2014 8:43 PM EDT2014-07-28 00:43:53 GMT
    Ret. Lt. Sam Vitter (Source: APSO)Ret. Lt. Sam Vitter (Source: APSO)
    PRAIRIEVILLE, La. (AP) - The Ascension Parish Sheriff's Office says a recently retired deputy has drowned trying to rescue his Yorkshire terrier.
    PRAIRIEVILLE, La. (AP) - The Ascension Parish Sheriff's Office says a recently retired deputy has drowned trying to rescue his Yorkshire terrier.
  • MPD investigate Friday night rape report

    MPD investigate Friday night rape report

    Saturday, July 26 2014 6:05 PM EDT2014-07-26 22:05:59 GMT
    MONROE, La. (KNOE 8 News) - Monroe Police are investigating a reported rape from Friday night.
    MONROE, La. (KNOE 8 News) - Monroe Police are investigating a reported rape from Friday night.
  • Areas of West Monroe test positive for West Nile

    Areas of West Monroe test positive for West Nile

    Friday, July 25 2014 4:31 PM EDT2014-07-25 20:31:42 GMT
    OUACHITA PARISH, La. (KNOE 8 News OPMAD) - Three mosquito pools, representing three locations, have tested positive for West Nile virus in Ouachita Parish.
    OUACHITA PARISH, La. (KNOE 8 News OPMAD) - Three mosquito pools, representing three locations, have tested positive for West Nile virus in Ouachita Parish.
  • Group protests illegal immigration in Monroe

    Group protests illegal immigration in Monroe

    Saturday, July 26 2014 6:29 PM EDT2014-07-26 22:29:54 GMT
    MONROE, La. (KNOE 8 News) - On Saturday, a small group took to the streets of the Twin Cities, to protest illegal immigration. They call themselves, Three Percenters. They say they are dedicated to action, education and reform of government, they believe has gotten too large to effectively operate. 
    MONROE, La. (KNOE 8 News) - On Saturday, a small group took to the streets of the Twin Cities, to protest illegal immigration. They call themselves, Three Percenters. They say they are dedicated to action, education and reform of government, they believe has gotten too large to effectively operate. 
  • Clerk wrestles gun away from armed robbery suspect

    Clerk wrestles gun away from armed robbery suspect

    Saturday, July 26 2014 4:40 PM EDT2014-07-26 20:40:24 GMT
    MONROE, La. (KNOE 8 News) - Police are investigating an attempted armed robbery where a clerk fought a gun away from a suspect.
    MONROE, La. (KNOE 8 News) - Police are investigating an attempted armed robbery where a clerk fought a gun away from a suspect.
  • Juvenile shot after leaving party in South Monroe

    Juvenile shot after leaving party in South Monroe

    Saturday, July 26 2014 6:19 PM EDT2014-07-26 22:19:25 GMT
    MONROE, La.(KNOE 8 News) - Police are investigating a shooting from South Monroe early Saturday morning.
    MONROE, La.(KNOE 8 News) - Police are investigating a shooting from South Monroe early Saturday morning.
  • California lightning hits 14; 2 critically injured

    California lightning hits 14; 2 critically injured

    Sunday, July 27 2014 9:33 PM EDT2014-07-28 01:33:11 GMT
    LOS ANGELES (AP) - Thunderstorms are quite rare in Southern California, but people living in Southern California got a stark reminder today of how ferocious they can be.
    LOS ANGELES (AP) - Thunderstorms are quite rare in Southern California, but people living in Southern California got a stark reminder today of how ferocious they can be.
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.