Posted: Thu 9:31 AM, Dec 27, 2012
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Updated: Thu 10:17 AM, Dec 27, 2012
Sen. Reid: nation appears headed over fiscal cliff
Senate Majority Leader Harry Reid of Nevada speaks to reporters following the Democratic policy luncheon on Capitol Hill in Washington, Tuesday, Dec. 18, 2012. (AP Photo/Susan Walsh)
WASHINGTON (AP) -- Senate Majority Leader Harry Reid says the government appears headed over the so-called fiscal cliff because of a lack of progress in bipartisan negotiations.
The Nevada Democrat says it's up to congressional Republicans to come up with a plan that both houses would pass and President Barack Obama would sign.
Reid says of missing the Dec. 31 deadline to avoid the fiscal cliff, quote: "it looks like that's where we're headed."
Major tax hikes and spending cuts will hit most Americans if Congress and the White House don't reach a compromise by the year's end.
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