Senate leaders urge votes on competing cliff bills

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Senate leaders urge votes on competing cliff bills
from MarketWatch.com - MarketPulse
WASHINGTON (MarketWatch) -- The Senate's Democratic and Republican leaders on Friday urged votes on differing tax bills to avert the fiscal cliff, but didn't agree to schedule anything. Senate Republican Leader Mitch McConnell said the Senate should pass a one-year extension of current tax rates. But Senate Majority Leader Harry Reid rejected McConnell's idea and said House Speaker John Boehner should allow a House vote extending current income-tax rates only for the middle class. Lawmakers and President Barack Obama have just 10 days to avert the fiscal cliff of tax hikes and spending cuts.