WASHINGTON (Reuters) - The White House is “really anxious” to tackle looming tax increases and across-the-board spending cuts known as the “fiscal cliff,” Vice President Joe Biden said on Wednesday as the administration savored winning re-election.
“We’re really anxious to get moving on, first of all, dealing with, the first things first, this fiscal cliff,” Biden told reporters traveling with him, according to a pool report. “I think we can do it.”
Biden said he believed Republicans would have to do some “soul-searching” about issues they would be willing to compromise on. A deeply divisive debate in 2011 over fiscal issues almost pushed the United States into defaulting on its debt.
Biden was speaking before House Speaker John Boehner made remarks on the fiscal cliff at the Capitol.
Reporting By Mark Felsenthal; editing by Stacey Joyce