Monday, December 31, 2012

Reuters: U.S.: "Fiscal cliff" deal reached between White House, lawmakers: source

Reuters: U.S.
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"Fiscal cliff" deal reached between White House, lawmakers: source
Jan 1st 2013, 02:42

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A man walks past the U.S. Capitol Building in Washington December 17, 2012. REUTERS/Joshua Roberts

A man walks past the U.S. Capitol Building in Washington December 17, 2012.

Credit: Reuters/Joshua Roberts

WASHINGTON | Mon Dec 31, 2012 9:16pm EST

WASHINGTON (Reuters) - The White House and congressional lawmakers have reached a deal to avoid the "fiscal cliff" that would delay harsh spending cuts by two months, an Obama administration source said on Monday.

The source said Democratic Senate Majority Leader Harry Reid and House of Representatives Minority Leader Nancy Pelosi had signed off on the deal.

The agreement includes a balance of spending cuts and revenue increases, the source said.

(Reporting by Jeff Mason and Mark Felsenthal; Editing by Eric Walsh)

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