Immediate action needed to avoid fiscal cliff

WASHINGTON D.C. (WWLP) - President Obama says Congress needs to take "immediate action" to prevent across-the-board tax hikes and spending cuts that go into effect on January 1st.
  
The Commander in Chief met with congressional leader this afternoon in a nearly last minute effort to avoid the fiscal cliff.
  
If Congress can't reach a deal, the president says Congress should allow a vote on a basic package that would preserve tax cuts for middle-class Americans while extending unemployment benefits for the two-million long-term jobless, and work toward a foundation for a broader deal.

Economists, business leaders all think that were poised to grow in 2013 as long as politics in Washington don't get in the way of America’s progress, so we've got to get this done,” President Obama said.

Senate leaders say they hope to reach a compromise that could be presented to lawmakers by Sunday, little more than 24 hours before the deadline.