By BEN FELLER, THE ASSOCIATED PRESS

WASHINGTON -- A White House official says President Barack Obama is inviting Congressional leaders of both parties to the White House next week for talks on how to avoid the so-called fiscal cliff.

Obama will announce the invitations on Friday as he addresses the nation on actions needed to avoid harsh economic consquences from a looming combination of tax increases and spending cuts.

Obama is expected to urge Congress to act, including passing a bill that would prevent Bush-era tax cuts from expiring for all but the wealthiest Americans.

In his address from the White House East Room, Obama is not expected to put forward a specific plan, but instead will call on lawmakers from both parties to work together to tackle the nation's fiscal problems.

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  • George Washington (1789-97)

    <a href="http://www.whitehouse.gov/about/presidents/georgewashington">1st President</a> of the United States (Photo by Three Lions/Getty Images)

  • Thomas Jefferson (1801-09)

    <a href="http://www.whitehouse.gov/about/presidents/thomasjefferson">3rd President</a> of the United States (Photo by Hulton Archive/Getty Images)

  • James Madison (1809-17)

    <a href="http://www.whitehouse.gov/about/presidents/jamesmadison">4th President</a> of the United States (Photo by National Archive/Newsmakers)

  • James Monroe (1817-25)

    <a href="http://www.whitehouse.gov/about/presidents/jamesmonroe">5th President</a> of the United States (Photo by Hulton Archive/Getty Images)

  • Andrew Jackson (1829-37)

    <a href="http://www.whitehouse.gov/about/presidents/andrewjackson">7th President </a>of the United States (Photo by Hulton Archive/Getty Images)

  • Abraham Lincoln (1861-65)

    <a href="http://www.whitehouse.gov/about/presidents/abrahamlincoln">16th President </a>of the United States -- Lincoln was assassinated on April 14, 1865, after being inaugurated second term. (Photo by Alexander Gardner/Hulton Archive/Getty Images) <em><strong>Correction:</strong> A previous version of this text misstated the amount of time Lincoln had served during his second term before his assassination.</em>

  • Ulysses S. Grant (1869-77)

    <a href="http://www.whitehouse.gov/about/presidents/ulyssessgrant">18th President</a> of the United States (Photo by Hulton Archive/Getty Images)

  • Grover Cleveland (1885-89, 1893-97)

    <a href="http://www.whitehouse.gov/about/presidents/grovercleveland22">22nd</a> and <a href="http://www.whitehouse.gov/about/presidents/grovercleveland24">24th President</a> of the United States (Photo by National Archive/Newsmakers)

  • William McKinley (1897-1901)

    <a href="http://www.whitehouse.gov/about/presidents/williammckinley">25th President</a> of the United States -- McKinley was elected to a second term, but it came to a tragic end when he was assassinated in September 1901. (Courtesy of the National Archives/Newsmakers)

  • Theodore Roosevelt (1901-09)

    <a href="http://www.whitehouse.gov/about/presidents/theodoreroosevelt">26th President</a> of the United States -- After McKinley's assassination, Roosevelt completed that term and was then elected to his own term. (Photo by George C. Beresford/Beresford/Getty Images)

  • Woodrow Wilson (1913-21)

    <a href="http://www.whitehouse.gov/about/presidents/woodrowwilson">28th President</a> of the United States (Photo by Hulton Archive/Getty Images)

  • Calvin Coolidge (1923-29)

    <a href="http://www.whitehouse.gov/about/presidents/calvincoolidge">30th President</a> of the United States -- After President <a href="http://www.whitehouse.gov/about/presidents/warrenharding">Warren G. Harding</a> died of a heart attack in August 1923, Coolidge completed that term and then earned a term of his own. (Photo by National Archive/Newsmakers)

  • Franklin D. Roosevelt (1933-45)

    <a href="http://www.whitehouse.gov/about/presidents/franklindroosevelt">32nd President</a> of the United States (Photo by Keystone/Getty Images)

  • Harry Truman (1945-53)

    <a href="http://www.whitehouse.gov/about/presidents/harrystruman">33rd President</a> of the United States -- after <a href="http://www.whitehouse.gov/about/presidents/franklindroosevelt">FDR died</a> in April 1945 of a cerebral hemorrage, Truman completed that term, and was then elected to an additional term. (Photo by Hulton Archive/Getty Images)

  • Dwight D. Eisenhower (1953-61)

    <a href="http://www.whitehouse.gov/about/presidents/dwightdeisenhower">34th President</a> of the United States (Photo by Keystone/Getty Images)

  • Lyndon B. Johnson (1963-69)

    <a href="http://www.whitehouse.gov/about/presidents/lyndonbjohnson">36th President</a> of the United States -- after John F. Kennedy's assassination on Nov. 22, 1963, then-vice president Johnson took over. He completed Kennedy's term and was then elected to one term of his own. (AFP/Getty Images)

  • Richard Nixon (1969-74)

    <a href="http://www.whitehouse.gov/about/presidents/richardnixon">37th President </a>of the United States -- Nixon was elected to a second term, but resigned in August 1974 over the Watergate scandal. (AFP/Getty Images) <em><strong>Correction:</strong> A previous version of this slide incorrectly listed Nixon as the 25th President of the United States.

  • Ronald Reagan (1981-89)

    <a href="http://www.whitehouse.gov/about/presidents/ronaldreagan">40th President</a> of the United States (Photo credit should read -/AFP/Getty Images)

  • Bill Clinton (1993-2001)

    <a href="http://www.whitehouse.gov/about/presidents/williamjclinton">42nd President</a> of the United States (LUKE FRAZZA/AFP/Getty Images)

  • George W. Bush (2001-09)

    <a href="http://www.whitehouse.gov/about/presidents/georgewbush">43rd President</a> of the United States (SCOTT OLSON/AFP/Getty Images)

  • Barack Obama (2009-Present)

    <a href="http://www.whitehouse.gov/about/presidents/barackobama">44th President</a> of the United States (SAUL LOEB/AFP/Getty Images)