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Latest On Fiscal Cliff

(The Senate Budget Committee, budget.senate.gov )
(The Senate Budget Committee, budget.senate.gov )
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Updated: 11/26/2012 8:26 am
Washington - Some congressional Republicans now say they're willing to consider raising taxes.

The congressional representatives say they're willing to consider a tax hike to avoid going over the looming cliff.

That's a big change for some politicians who swore an oath that they would never do that.

“I will violate the pledge, long story short, for the good of the country,” said South Carolina Senator Lindsey Graham, “only if Democrats will do entitlement reform.”

“A pledge we signed 20 years ago, [or] 18 years ago--is for that Congress,” said Rep. Peter King. “The world is changed and the economic situation is different.”

President Obama wants to let tax rates rise for wealthy families.

Many Republicans argue that will put a damper on economic growth.
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