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Eric Cantor Says Congress Won't Adjourn Without A Fiscal Cliff Deal

Eric Cantor Says Congress Won't Adjourn Without A Fiscal Cliff Deal
Arthur Delaney
By 

Senior Reporter, HuffPost

WASHINGTON, DC - NOVEMBER 30: House of Representatives Majority Leader Eric Cantor (R-VA) (2nd R) talks to reporters with (L-R) Rep. Cathy McMorris Rodgers (R-WA), Rep. Jaime Herrera Beutler (R-WA) and Rep. Raul Labrador (R-ID) after the House passed the STEM Jobs Act November 30, 2012 in Washington, DC. The act would allow foreign students who graduated from U.S. colleges and universities with degrees in science and technology to obtain green cards to become permanent legal residents. President Barack Obama said he would not sign the bill unless it was part of larger and more comprehensive immigration reform legislation. (Photo by Chip Somodevilla/Getty Images)
WASHINGTON, DC - NOVEMBER 30: House of Representatives Majority Leader Eric Cantor (R-VA) (2nd R) talks to reporters with (L-R) Rep. Cathy McMorris Rodgers (R-WA), Rep. Jaime Herrera Beutler (R-WA) and Rep. Raul Labrador (R-ID) after the House passed the STEM Jobs Act November 30, 2012 in Washington, DC. The act would allow foreign students who graduated from U.S. colleges and universities with degrees in science and technology to obtain green cards to become permanent legal residents. President Barack Obama said he would not sign the bill unless it was part of larger and more comprehensive immigration reform legislation. (Photo by Chip Somodevilla/Getty Images)

WASHINGTON -- A top Republican in the U.S. House of Representatives pledged Wednesday to keep Congress in session until a deal on the so-called fiscal cliff has been reached, potentially jeopardizing many members' Christmas plans.

"The House will not adjourn the 112th Congress until a credible solution to the fiscal cliff has been announced," House Majority Leader Eric Cantor (R-Va.) said on Twitter.

The cliff represents the moment when big spending cuts and tax hikes are scheduled to take effect at the end of the year. Democrats and Republicans agree that the tax hikes and spending cuts should be replaced with smaller hikes and cuts, but they disagree on the specifics.

President Barack Obama campaigned for reelection on the promise of higher tax rates for incomes above $250,000, while Republicans have said they will only agree to increased tax revenue by closing unspecified tax loopholes and limiting deductions. The two sides also disagree on the scope of spending cuts and whether to include changes to programs like Social Security and Medicare.

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