Reuters reports that the White House and members of Congress have reached a deal to delay spending cuts U.S. budget for two months. The article quoted sources in the U.S. government told Reuters yesterday.
Meanwhile, a news aggregator site Huffington Post wrote that negotiations brokered by Vice President Joe Biden and Senate Minority Leader Mitch McConnell.
Reuters and the Huffington Post both said that President Obama has called Senate Majority Leader Harry Reid and Minority Leader U.S. House of Representatives Nancy Pelosi. Both have signed the deal.
According to Reuters, the new resolution includes fiscal cliff effort to balance the budget spending cuts and revenue to pay delay automatic spending cuts. The delay applies spending cuts to the defense budget 50% and 50% for non-defense.
While the Huffington Post said that the new package the results of negotiations will continue the Bush tax cuts for those earning up to U.S. $ 450,000, and still maintain the limit value of the tax shelter (Estate tax) on a U.S. $ 5 million. The package also will delay while trimming spending by billions of dollars for two months.
However, the article noted, fiscal resolution still needs approval from all members of the Republican and Democrat. Biden will meet with Senate Democrats Monday night to persuade them to sign the package.
A source close to the Pelosi said that Pelosi did approve the deal on the table. However, he will not fully commit. "He supported so far. However if Democratic lawmakers from serious problems with it, it can change."
