Obama: ‘The hour for immediate action is here’

Mitch McConnell, John Boehner, Nancy Pelosi

Senate leaders are working off-stage Saturday to reach a final-hours deal to avert a fiscal crisis, with no official proposals or votes expected until Sunday.

Senate Majority Leader Harry Reid, D-Nevada, has adjourned the chamber until Sunday so Democratic and Republican leaders can negotiate on a deal to present to the House.

House members will officially return to Capitol Hill on Sunday in expectation that the Senate will present them with a plan to stop tax increases that are scheduled to kick in next week.

Senate leaders from both sides of the aisle vowed late Friday to scramble over the weekend to produce a new bill, on the heels of a high-stakes White House meeting with President Obama that is seen as the last chance to come together before the tax-hike deadline.

Minority Leader Mitch McConnell said he hopes senators can come forward with a recommendation as early as Sunday.



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