Two Agree-A Deal Likely To Be Made
Both Democrat and Republican agreed on "Fox News Sunday" that a deal will likely be made to avert the fiscal cliff-the avalanche of tax hikes and spending cuts set to take effect in January if Congress doesn't act.
Senator Bob Corker (R-TN), a key Republican voice on the Finance and Banking committees, said he hopes whatever deal is presented, that it is "large enough to include entitlement reform so it’s something I can vote for."
Senator Chuck Schumer (D-NY), the third highest-ranking Democrat in the Senate, said he is optimistic a deal will be made because "we are seeing real progress" on the issues of revenue and the top income tax rate.
Schumer predicted that his Republican colleagues will "reluctantly agree to raising rates."
Corker agreed that there is movement on the issue, saying he believes giving the president his preference on raising the top rates is "the best route to take."
He went on to argue that an agreement on taxes will allow the focus to shift to entitlement reform, an issue which would address the biggest drivers of the US debt.
Schumer said if House Speaker John Boehner shares the view that Corker presented, he thinks "we will get a large agreement."