Obama, GOP Will Keep Working on Tax-Cut Deal

They hope to reach compromise on Bush cuts by year's end
By Newser Editors and Wire Services
Posted Nov 30, 2010 1:22 PM CST
President Obama makes a statement to reporters about his meeting today with Republican and Democratic Congressional leaders.   (J. Scott Applewhite)
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(Newser) – Reaching no quick fixes, President Obama and Republican leaders in Congress today vowed to seek a compromise on tax cuts before year's end. "The American people did not vote for gridlock," Obama said following the session. There was no consensus on whether to keep Bush-era tax cuts in place for the middle class and wealthy alike, but the eight bipartisan congressional leaders and the president agreed to appoint a working group to negotiate a deal.

Obama appointed Timothy Geithner and budget director Jacob Lew to the group while party leaders will appoint their own representatives. House Speaker-in-waiting John Boehner called it a "nice meeting," but said the hard work of achieving bipartisan agreement still lies ahead. Mitch McConnell said the GOP remains "100%" against any tax increases. Click here for more.

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