Senate Majority Leader Harry Reid says Cliff Deal Unlikely Before Christmas

House Speaker John Boehner’s office said Tuesday that Republicans have made a counterproposal in “fiscal cliff” talks with the White House. Word of the offer came after Senate Majority Leader Harry Reid said it will be hard to reach a deal before Christmas.

Officials said President Barack Obama and Boehner had exchanged at least partial proposals in the past two days, although details were sparse and evidence of significant progress scarcer still. Obama and Boehner spoke by phone Tuesday after exchanging proposals.

Earlier, Reid said Democrats aren’t going to make an offer on spending cuts. “Until we hear something from Republicans, there’s nothing to draft,” Reid told reporters in the Capitol, referring to writing legislation to implement a deal.

via CNBC

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