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We begin with fox team coverage chief White House correspondent Ed Henry looks at the president's next move.
And -- congressional correspondent Mike Emanuel on where this all stands at this moment we'll start with Mike and I say Mike -- at this moment.
Because it's been really every moment changing throughout the day.
Well that's right -- good evening to you house Republican leaders have spent a lot of time behind closed doors.
With their members trying to figure out away for the bombshell announcement from the house majority leader late today was that he does not support this compromise.
House Republicans have been complaining about a deal they did not negotiate.
About the lack of spending cuts.
We're building a consensus that we have to -- some more centrist than people told me this Time -- and if -- increased tax relief to parents and.
Part of the problem is the deal includes 620 billion dollars in new tax hikes with only fifteen billion dollars in spending cuts that comes out to about one dollar and cuts for 41 dollars in taxes.
Recognizing there would likely be trouble attracting enough house GOP support to pass the bill.
Vice president Joseph Biden returned to Capitol Hill again today to encourage house Democrats to support the compromise he negotiated.
After the meeting house democratic leaders pushed for an up or down vote on the existing package noting it's already after the fiscal cliff deadline.
Taxes will be going up on everybody in America.
If we don't act.
Those who are relying on unemployment insurance millions of Americans -- -- on unemployment insurance to make sure they can -- themselves and their families.
If we don't act.
-- will be at risk.
The democratic leader -- bipartisan support up until now it was say.
A bill that was passed in the United States senate 89 to eight tell me when you've had that ironic measure as controversy -- Is this some house Republicans push for quick passage arguing its too late for amendments.
It's too late in the game you know -- point in -- work done.
-- you keep trying to tinker with it to make perfect but then the deal falls apart.
Though it was pretty clear early in the day members of the GOP leadership to -- not about to be rushed.
The -- -- months -- democratic controlled senate ten months to look at that and now they're expecting us to vote on something they passed hours ago without reading -- I don't.
I don't think so.
A former house member now in the senate suggested his GOP colleagues should take the deal.
If we don't get this tax -- problem fixed for all Americans the economy's gonna collapse.
The stock market's gonna go down the defense department's gonna become become unraveled we're gonna get blamed so what I would advise my house -- to do.
Make it better if you can save you powder for the debt ceiling fight.
As house Republican leadership is considering the way forward time is becoming an issue -- -- now less than.
48 hours from -- new congress being sworn in.
In moments ago a Senate Democratic Leader -- -- offered a threat saying essentially the speaker's office was kept apprised as this deal was going forward.
There's no time did ping pong offers back and forth.
And he says essentially if the house Republicans mess with the deal they got overwhelming bipartisan support.
They'll be responsible for the largest tax hike in American history Brett.
-- and we're just getting word the senate majority leader Harry Reid is adjourned the senate until noon.
Tomorrow what are Republicans saying about the -- possibility of amending this bill and what that means for the future of -- if they choose to come out of this meeting.
And then put some spending cuts into the bill would have to go to the senate what are they saying publicly about what that means.
-- David Dreier who is the head of the house rules committee has expressed concern about time being a factor he's expressed the concern that.
Perhaps this could end up killing the bill and then you'd have to start over with a new bill in the 113 congress which starts in less than 48 hours so there is concern about that others are saying hey we were elected to cut spending in Washington.
We need to do this and so the clock is running and -- -- waiting to see what they decide to do.
Okay we'll watch and head back for breaking news from you Mike thank you.
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