LOUISVILLE, Ky. (WHAS) -- Congressional leaders will meet at the White House Friday to talk about the fiscal cliff with President Obama.
Kentucky Senator Mitch McConnell says he's hopeful that lawmakers will be able to come up with a compromise.
"Yesterday (Wed) the president said he had an open mind when it came to finding a solution to these things. He said he is happy to listen to other peoples' ideas. I take that as a good sign. If the president has got an open mind maybe he will see that Republicans are the ones who have expressed a willingness to step out of our comfort zone, if it actually leads to a solution," said McConnell.
The fiscal cliff is the tax increases and spending cuts that will automatically take effect at the beginning of the year if Congress does not act.
President Obama is asking for $1.6 trillion in new taxes over the next ten years, something Republicans call unacceptable.