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Senate Leaders Have Not Yet Reached Fiscal Cliff Deal, Senior Aide Says

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U.S. Senate leaders have not yet been able to reach a deal to a avert a "fiscal cliff," and with time running out, it is uncertain if they will get one, a senior Senate aide said on Sunday.

Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell have been aiming to reach an agreement by 3 p.m. EST (2000 GMT) so that they can present it to previously scheduled closed-door meetings of their respective Democratic and Republican colleagues in an attempt to beat a New Year's Day deadline.

However, at this point, they still do not have an agreement, the aide said, speaking on condition of anonymity.

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