Obama to hold fiscal cliff summit

12:13 PM, Nov 9, 2012   |    comments
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WASHINGTON - A White House official says President Barack Obama is inviting Congressional leaders of both parties to the White House next week for talks on how to avoid the so-called fiscal cliff.

Obama will announce the invitations on Friday as he addresses the nation on actions needed to avoid harsh economic consquences from a looming combination of tax increases and spending cuts.

Obama is expected to urge Congress to act, including passing a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans.

In his address from the White House East Room, Obama is not expected to put forward a specific plan, but instead will call on lawmakers from both parties to work together to tackle the nation's fiscal problems.

 

(Copyright 2012 by The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed. )

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