Fiscal Cliff

White House and congressional aides have worked through the weekend on ways to avoid the "fiscal cliff," and there are signs of movement.

House Speaker John Boehner has proposed raising top rates for earners making more than $1 million, a person familiar with the negotiations says.

President Barack Obama and House Speaker John Boehner held a "frank" meeting lasting nearly an hour Thursday night, aides to both men said. Boehner returned to the Capitol without public comment, and the aides would not discuss whether the negotiating session at the White House resulted in progress to avoid the looming "fiscal cliff."

President Obama and Washington Lawmakers continue to work on a compromise to avoid the so-called "fiscal cliff" where major estate and income tax breaks end and draconian spending cuts kick in automatically at the end of the year if nothing is done.