Lawmakers Optimistic About Avoiding Fiscal Cliff

Leading lawmakers expressed confidence that they could reach a deal to avert the “fiscal cliff” even as they laid down markers on taxes and spending that may make any agreement more difficult, Reuters reports.

“Republicans and Democratic leaders have agreed on a framework to reform the tax code and government benefit programs next year, but first need to prevent across-the-board tax increases and spending cuts due to begin in January that could push the economy back into recession.”

Wonk Wire: Time for the Obama tax cuts?