“Fiscal cliff” talks continue as clock ticks down

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A deal may be emerging in the “fiscal cliff” negotiations.

The Los Angeles Times reports the plan would raise taxes on incomes, including investments, for taxpayers making more than $450,000 a year.

But the two sides reportedly remain divided on what to do about the automatic spending cuts that make up part of the year-end “fiscal cliff.”

President Obama is expected to speak from the White House this afternoon with the latest developments.

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