Representative Tom Cole (R-OK) talked about negotiations between House Republicans and President Obama to avoid the “fiscal cliff,” and he responded to telephone calls and electronic communications. Representative Cole the previous week had gotten a lot of news coverage for saying in private that Republicans should extend tax cuts for earners making $250,000 annually or less while allowing the taxes of individuals making more to increase.
“Fiscal cliff” referred to the impending tax increases and sequestration budget cuts at the end of 2012 if Congress failed to reach a new budget agreement.*"Sequestration," a legal procedure in which automatic budget cuts are triggered, was agreed to in the Budget Control Act of 2011.
Nancy Calo read news headlines from C-SPAN Radio at the end of the program.