White House says a fiscal cliff deal has been reached

WASHINGTON – The White House said a deal had been reached to avert the “fiscal cliff” and dispatched Vice President Joe Biden to Capitol Hill late Monday, an indication lawmakers were heading toward a possible late-night vote on the proposal to avert sweeping tax hikes and spending cuts.

By Lisa Mascaro, Kathleen Hennessey and Michael A. Memoli

December 31, 2012