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Fiscal cliff negotiations shift to senate

9:17 AM, Dec 27, 2012   |    comments
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AP file

Washington D.C., (NBC) - Lawmakers continue to take aim at each other over possible solutions to the fiscal cliff.

President Obama and members of congress return to work Thursday with only days left to avert the fiscal cliff.

All eyes will be on the senate after house republicans said it's up to the senate leadership to reach a deal.

House Speaker John Boehner has hinted that he may not even bring house members back to town until the senate comes up with a passable plan.

"I don't see how you could hammer out any kind of a grand bargain or large plan involving tax reform and entitlement changes in a matter of days," said Jared Bernstein from the Center on Budget and Policy Priorities.

Serious doubt is setting in across the nation. Starbucks is getting involved by writing "come together" on its cups.

Speaker John Boehner says he's sitting this round out after failing to get enough House Republicans to support his own plan just before Christmas.

That leaves it up to Majority Leader Harry Reid and the rest of the Senate to find a passable solution.

Aides say Reid's plan would avoid tax increases for people making less than 250-thousand dollars, eliminate some big spending cuts and restore unemployment benefits.

Without a deal, Bush era tax cuts will expire January 1st and deep spending cuts will set in.

NBC

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