video transcript

ROUGH CUT (NO REPORTER NARRATION) STORY: U.S. President Barack Obama on Monday said it appeared a deal on the "fiscal cliff" was within sight but it was not complete yet. "Today it appears that an agreement to prevent this New Year's tax hike is within sight, but it is not done," Obama said at the White House. U.S. Senate Republicans appeared to be coalescing around a potential solution to the crisis with a plan that would continue expiring tax cuts for household incomes of up to $450,000, congressional sources said. "I think a majority of our caucus will go along with it," a senior Senate Republican aide told Reuters. Senate Democrats had not yet expressed positions on the emerging deal.