Budget and debt talks move to the White House
ASSOCIATED PRESS June 27, 2011 3:00AM
FILE -- In this file photo of Thursday, June 16, 2011, House Majority Leader Eric Cantor of Virginia, right, stands with House Speaker John Boehner of Ohio on Capitol Hill in Washington. Cantor, who has been participating in bipartisan budget talks headed by Vice President Joe Biden, pulled out today citing an impasse over taxes that required intervention by President Barack Obama and House Speaker John Boehner. (AP Photo/J. Scott Applewhite, File)
WASHINGTON (AP) — Efforts to work out a deal for cutting government spending while at the same time raising the debt limit move into a new phase with President Barack Obama meeting at the White House with Senate leaders.
Obama is set to meet Monday morning with the Democratic leader, Sen. Harry Reid, and then in the afternoon with the Republican leader, Sen. Mitch McConnell.
Talks between congressional leaders of the House and the Senate reached an impasse last week over the question of federal revenue. Democrats say they want to close loopholes and scale back tax breaks for big corporations and wealthy taxpayers. Republicans want to focus on cutting spending and have waved off tax increases.
McConnell told ABC’s “This Week” on Sunday that proposals seeking more tax revenue won’t pass Congress.