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Fiscal cliff deal close but Congress to miss deadline

The US will miss a midnight deadline and head over the "fiscal cliff", after the House of Representatives said it would hold no vote on Monday.

Earlier, President Barack Obama said a deal to avoid the steep tax rises and spending cuts is "within sight" - but not yet done.

Senators are said to be "very, very close" to a deal on tax rates but remain divided over spending cuts.

Mark Mardell reports.

  • 31 Dec 2012
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