Top Democrat wants quick deal on 'fiscal cliff'

WASHINGTON (AP) -- The top Democrat in Congress is calling for a quick solution to Washington's "fiscal cliff' in an upcoming post-election session.

Senate Majority Leader Harry Reid says he's "not for kicking the can down the road" and says any solution should include higher taxes on "the richest of the rich."

The so-called fiscal cliff is the one-two punch of expiring Bush-era tax cuts and across-the-board spending cuts to the Pentagon and domestic programs that could total $800 billion next year.

It's the most immediate item confronting President Barack Obama and a divided Congress in a post-election lame duck session. Economists say it threatens to push the economy back into recession if Obama and Republicans can't forge a deal to prevent it.

Copyright 2014 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

 

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New Mexico (change)

 
New Mexico is located in the southwestern region of the U.S. Inhabited by Native American populations for many centuries, New Mexico has also been part of Imperial Spain, part of Mexico, and a U.S. territory.
 
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Governor: Susana Martinez
Lieutenant Governor: John Sanchez
Attorney General: Gary King
Secretary of State: Dianna J. Durán

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