President Barack Obama said in a new conference on Monday that a deal to prevent a fiscal cliff is "within sight."
"It appears that an agreement to prevent" the fiscal cliff tax hike for Americans "is within sight, but it's not done," President Obama said. The agreement would extend tax credits for families with children, for tuition, and for clean energy companies, the president said, adding that it would also extend unemployment insurance.
Obama made the announcement at the White House with a group of middle-class Americans standing with him. Obama says he's hopeful Congress can get it done. The president says the potential deal would include an extension of unemployment benefits and a number of tax credit extensions, including those for families with children.
The deal in the works would return tax rates on families making over $450,000 to 39.6 percent. The tax on estates worth more than $5 million would increase to 40 percent. And unemployment benefits would continue for one year.
The officials say the White House and Republicans are at an impasse over what to do about automatic, across-the-board spending cuts set to begin taking effect on Jan. 1. Democrats want to put off the cuts for one year.
The officials requested anonymity in order to discuss the internal negotiations.
Copyright 2012 Associated Press. All rights reserved.
Wednesday, May 22 2013 5:52 PM EDT2013-05-22 21:52:07 GMT
Newton County Animal Control confirms that a fox bit two children on the playground of Rocky Plains Elementary School around 11 a.m. Officials set up a trap in the area, but the fox has not been caught. CBSMore >
Newton County Animal Control confirms that a fox bit two children on the playground of Rocky Plains Elementary School at about 11 a.m.More >
Wednesday, May 22 2013 6:39 PM EDT2013-05-22 22:39:41 GMT
A Decatur woman who was out with friends in Nashville, Tennessee during a bachelorette party is recovering at the Shepherd Spinal Center in Atlanta, after being hit by a suspected drunk driver the nightMore >
A Decatur woman who was out with friends in Nashville, Tennessee during a bachelorette party is recovering at the Shepherd Spinal Center in Atlanta, after being hit by a suspected drunk driver the night of the party.More >
Friday, May 17 2013 7:16 PM EDT2013-05-17 23:16:53 GMT
One person has died in a crash near Harrisonville, MO, Thursday evening. The crash happened on Missouri Highway 7 and Walker Road. It involved a car and a tractor-trailer. Harrisonville is in Cass County.More >
Savannah Nash celebrated her 16th birthday last week. She died Thursday when her car slammed into a semi while she was texting during her first time driving by herself.More >
Friday, May 24 2013 7:39 AM EDT2013-05-24 11:39:32 GMT
Palmetto police department is investigating an attempted abduction that occurred Wednesday afternoon. A 13 year old male got off of the school bus along Carlton Road and stated to police that a man approachedMore >
Palmetto Police Department is investigating an attempted abduction that occurred Wednesday afternoon. More >
Friday, May 24 2013 9:53 AM EDT2013-05-24 13:53:40 GMT
It only took a Fulton County jury one hour to reach a guilty verdict against Michael Parson, 40. Prosecutors said Michael Parson shot his wife Adina eight times outside their Sandy Springs home in AprilMore >
Jurors sentenced the Sandy Springs man found guilty of attempted murder to a maximum of 35 years in jail.More >
Friday, May 24 2013 2:31 AM EDT2013-05-24 06:31:07 GMT
Jodi Arias (Source: CBS 5 News)
It is now in the hands of the 12 jurors to decide if Jodi Arias will live her life behind bars or if she'll be executed. The defense and prosecution gave their closing statement Tuesday afternoon andMore >
The judge has declared a mistrial in the penalty phase of the Jodi Arias trial. The jury announced late Thursday afternoon that they could not reach a unanimous decision on life or death for Arias.More >