The AP reported Friday afternoon that President Obama is not offering a new deal to avert the fiscal cliff during a meeting with congressional leaders at the White House. This comes in contrast to reports from Friday morning that Obama would offer up a new, scaled-back offer.
Obama instead is spelling out again a plan he says can pass the House and Senate, said the source, who spoke on condition of anonymity because he was unauthorized to speak publicly about the private meeting.
Obama wants a bill to halt looming tax increases on all families making $250,000 a year or less and would extend unemployment insurance to many people about to lose it. His proposal would also cover other issues as the Jan. 1 deadline nears.
If he does not get a counter proposal that can pass both chambers, Obama will press for a straight up-or-down vote on his idea, the source said.