President Obama will meet with Congressional leaders Friday afternoon at the White House just days before the so-called fiscal cliff deadline, when taxes are slated to increase.
Obama will host Senate Majority Leader Harry ReidHarry ReidDraft House bill ignites new Yucca Mountain fight Week ahead: House to revive Yucca Mountain fight Warren builds her brand with 2020 down the road MORE (D-Nev.), Senate Minority Leader Mitch McConnellMitch McConnellStudy: Trump tops recent GOP presidents in signing bills in first 100 days Senate passes stopgap funding bill to avert shutdown Let’s never talk about a government shutdown — ever again MORE (R-Ky.), House Speaker John BoehnerJohn BoehnerLobbyists bounce back under Trump Business groups silent on Trump's Ex-Im nominee Chaffetz won't run for reelection MORE (R-Ohio) and House Minority Leader Nancy Pelosi (D-Calif.), according to a White House official.
The sitdown at the White House also comes as GOP leaders announced on Thursday that the House will come back into session on Sunday, just hours before the deadline.
A spokesman for BoehnerJohn BoehnerLobbyists bounce back under Trump Business groups silent on Trump's Ex-Im nominee Chaffetz won't run for reelection MORE said the House Speaker will "continue to stress that the House has already passed legislation to avert the fiscal cliff and now the Senate must act."
A spokesman for McConnell said the senator is "eager to hear from the President."
On the Senate floor Thursday, McConnell said, "Hopefully there is still time for an agreement of some kind that saves the taxpayers from a wholly preventable economic crisis.”
Obama last week said he would reach for a smaller deal that would extend tax rates on annual incomes below $250,000 while allowing rates above that threshold to rise. Obama also said he would seek an extension of unemployment benefits, but would put off broader entitlement reforms until next year, as well as a hike to the debt ceiling.
It is unclear, however, whether Republicans would move legislation that only extends rates on annual incomes below $250,000.
Updated at 8 p.m.