President Barack Obama gestures as he speaks about the fiscal cliff, Monday, Dec. 31, 2012, in the South Court Auditorium at the White House in Washington. The president said it appears that an agreement to avoid the fiscal cliff is "in sight," but says it's not yet complete and work continues. (AP Photo/Charles Dharapak)
President Barack Obama gestures as he speaks about the fiscal cliff, Monday, Dec. 31, 2012, in the South Court Auditorium at the White House in Washington. The president said it appears that an agreement to avoid the fiscal cliff is "in sight," but says it's not yet complete and work continues. (AP Photo/Charles Dharapak)
President Barack Obama smiles and gestures as he speaks about the fiscal cliff, Monday, Dec. 31, 2012, in the South Court Auditorium at the White House in Washington. The president said it appears that an agreement to avoid the fiscal cliff is "in sight," but says it's not yet complete and work continues. (AP Photo/Carolyn Kaster)
The moon rises behind the U.S. Capitol Dome in Washington as Congress works into the late evening, Sunday, Dec. 30, 2012 to resolve the stalemate over the pending "fiscal cliff." (AP Photo/J. David Ake)
WASHINGTON (AP) ? A Democratic aide says the White House and congressional Republicans have reached an agreement to avert the so-called fiscal cliff.
The measure would extend Bush-era tax cuts for family incomes below $450,000 and briefly avert across-the-board spending cuts set to strike the Pentagon and domestic agencies this week.
Vice President Joe Biden was set to sell the agreement to Senate Democrats at a meeting at the Capitol on Monday night.
The aide required anonymity because he wasn't authorized to speak publicly.
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