Obama optimistic on Senate-led deal

As Congress has only four days to reach an agreement before across-the-board tax rises and spending cuts take effect, Obama said Senate leaders were working to construct a bill that could win approval in both chambers of Congress. If it does not work, he would ask for a quick vote on preventing tax rises. He is seeking a vote to prevent tax rises on incomes and ensure unemployment insurance is continued.”The hour for immediate action is here, it is now,” the President said.

Congress

Obama’s meeting at White House regarding Senate-led deal

President Obama met Senators Harry Reid and Mitch McConnell, House of Representatives Speaker John Boehner, and Minority Leader Nancy Pelosi at the White House on Friday.McConnell said he was “hopeful and optimistic”. His Democratic counterpart said he would “do everything” to make the deal happened.Reid cautioned, “Whatever we come up with is going to be imperfect.”The renewed effort towards a Senate deal that could pass both chambers comes after much focus in negotiations rested on Boehner.”The Speaker told the president that if the Senate amends the House-passed legislation and sends back a plan, the House will consider it – either by accepting or amending,” a staff member in the house speaker’s office said.

Obama’s decision for Senate-led deal

Obama’s plans to increase taxes on the wealthiest Americans have remained a point of division between the two parties since he won re-election in November. Many Republicans oppose new taxes as a matter of principle.On Friday, Obama said in a news conference, “The American people are watching what we do here, obviously their patience is already thin.”If Congress does not pass the new legislation, it will affect people of all income levels and many other businesses.