国际英语新闻:Congress Misses Fiscal Cliff Deadline, Possible Deal Reached in Senate

CAPITOL HILL — White House and Senate Democratic officials say they have reached a deal with congressional Republicans after two days of marathon negotiations aimed at averting the so-called "fiscal cliff" that would institute tax hikes at the beginning of the year.

Vice President Joe Biden met with Senate Democrats at the Capitol late Monday as the news of a possible deal emerged.

Reports say the deal would delay the fiscal cliff deadline by two months and extend Bush-era tax cuts for households making less than $450,000.

The Senate called a recess late Monday, virtually ensuring no vote before the midnight deadline to avert the fiscal cliff. House members earlier left the Capitol without taking any action. They planned to reconvene at noon Washington time on Tuesday.

Senate Republican leader Mitch McConnell said earlier that members of both parties had agreed on all tax issues. At the White House, President Barack Obama said negotiators still had work to do to reach an accord on whether to delay significant, mandated government spending cuts. Analysts say that absent a compromise, the $500 billion in austerity measures eventually could plunge the U.S. economy into another recession.

Lawmakers and analysts say there is plenty of blame to go around for a situation that frustrates ordinary Americans.

Retiring Republican Congressman Steven LaTourette of Ohio said he still believes the U.S. system of government is the best in the world, but he faulted all sides for not trying to find common ground.

"Because no one, from the White House to either house of Congress has the political courage to do what everybody in town knows needs to be done, and that is to come up with a big deal that actually solves the nation's debt problem, supplies sufficient revenues to operate the government, while at the same time trimming spending," he said.

Democratic Congresswoman Gwen Moore of Wisconsin said the deal might have looked better to Democrats under the pressure of the midnight deadline than it will look later after taxes automatically go up on everyone. "And so, it may not be such a great deal, if they force us over the cliff.  So we will have to wait and see," she said.