POSTED: Monday, December 31, 2012 - 1:57pm
UPDATED: Monday, December 31, 2012 - 1:58pm
U.S. — "It appears that an agreement to prevent" the fiscal cliff tax hike for Americans "is within sight, but it's not done," President Barack Obama said Monday.
The agreement would extend tax credits for families with children, for tuition, and for clean energy companies, the president said, adding that it would also extend unemployment insurance.
The deal being discussed will ask the wealthiest 2% of Americans to pay higher taxes for the first time in two decades, President Obama added, saying that if Republicans want to "shove spending cuts at us" that will hurt seniors, students or middle-class families "without asking also equivalent sacrifice from millionaires or companies with a lot of lobbyists," they're wrong.
"If they think that's going to be the formula for how we solve this thing then they've got another think coming," he said.