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White House, Congressional Leaders Reach Fiscal Cliff Deal

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The White House and Senate have reached a deal Monday night to avoid the fiscal cliff. Senator Harry Reid and Representative Nancy Pelosi have reportedly agreed to the deal in a phone call with President Obama. The deal would delay major spending cuts by two months.

The Senate is expected to vote on the deal before midnight ET Monday. Republican Senate leaders reportedly are confident the deal will pass the House and Senate by a wide margin.

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