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Negotiations resume to avoid ‘fiscal cliff’

Posted: December 31, 2012 at 12:34 a.m.

Senate Majority Leader Harry Reid, D-Nev., retreats to a private meeting with fellow Democrats as he and Senate Minority Leader Mitch McConnell, R-Ky., work to avoid the “fiscal cliff” Sunday in Washington.

Negotiations over a last-ditch agreement to head off large tax increases and sweeping spending cuts in the new year appeared to resume Sunday afternoon after Republican senators withdrew their demand that a deal must include a new way of calculating inflation that would lower payments to beneficiaries programs like Social Security and slow their growth.

Senate Negotiators Remain Short of a Fiscal Deal

Senate negotiators remain short of an agreement as a year-end deadline looms to prevent tax increases for nearly all Americans. (Dec. 30) (By The Associated Press)
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