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AP: Fiscal Cliff Deal ‘Emerging’

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Senate Minority Leader Mitch McConnell, R-Ky., walks toward his office after speaking on the Senate Floor on Capitol Hill on Dec. 27, 2012 in Washington, D.C. (credit: Drew Angerer/Getty Images)

Senate Minority Leader Mitch McConnell, R-Ky., walks toward his office after speaking on the Senate Floor on Capitol Hill on Dec. 27, 2012 in Washington, D.C. (credit: Drew Angerer/Getty Images)

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(LANHAM, Md.) — The Associate Press is reporting that a Fiscal Cliff deal is emerging.

Details of the deal include raising taxes on couples making more than $450,000 and extending unemployment benefits for one year, according to AP.

This possible deal comes just hours before the midnight deadline and after months of talks between Congress and President Barack Obama.

President Obama is expected to give an update on the progress of the negotiations at 1:30 p.m. Monday.

Check back for more details as we continue to follow this story…

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