Obama pledges to work with Congress to avoid fiscal cliff

WASHINGTON Thu Dec 20, 2012 9:21pm EST

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WASHINGTON Dec 20 (Reuters) - Following the collapse of congressional Republicans' "Plan B" tax cut bill, the White House pledged on Thursday to work with Congress to avoid year-end "fiscal cliff" tax hikes and spending cuts and said President Barack Obama is hopeful a deal can be reached quickly.

"The president will work with Congress to get this done and we are hopeful that we will be able to find a bipartisan solution quickly that protects the middle class and our economy," White House spokesman Jay Carney said in a statement.

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