Anonymous Coward User ID: 14873148 United States 12/27/2012 01:41 PM Report Abusive Post Report Copyright Violation | [ link to www.cnn.com] " Washington (CNN) -- In an effort to end an impasse over taxes, President Barack Obama plans to send Congress a scaled-back proposal Thursday to avoid the harshest impacts of the fiscal cliff, sources told CNN. A Republican senator said Obama told Senate Minority Leader Mitch McConnell, R-Kentucky, that the president's plan would arrive on Thursday, and a Senate Democratic leadership member also said that was the approach being taken. Both sources spoke on condition of not being identified further. NEW: President to take the first step in trying to get a deal with Republicans Senate leader Reid questions whether enough time remains for an agreement Without a deal, taxes go up and spending gets slashed in the new year An impasse over taxes remains the major obstacle" |