WASHINGTON (AP) — The end game at hand, the White House and Senate leaders launched a final attempt at compromise Friday night in hopes of preventing a toxic blend of middle-class tax increases and spending cuts from taking effect at the turn of the new year.
"I am hopeful and optimistic" of reaching an agreement after months of gridlock, the Senate Republican Leader, Mitch McConnell of Kentucky, said after a meeting with President Barack Obama and top congressional leaders at the White House.
He said he hoped for a compromise that could be presented to rank and file lawmakers by Sunday, little more than 24 hours before the year-end deadline.
Said Majority Leader Harry Reid said, "I'm going to do everything I can" to prevent the tax increases and spending cuts that threaten to send the economy into recession. He cautioned, "Whatever we come up with is going to be imperfect.
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