Obama, Boehner hold hour-long White House meeting
President Barack Obama and House Speaker John Boehner held a "frank" meeting lasting nearly an hour Thursday night, aides to both men said. Boehner returned to the Capitol without public comment, and the aides would not discuss whether the negotiating session at the White House resulted in progress to avoid the looming "fiscal cliff."
It was the two men's second face-to-face encounter in five days as they seek to find an agreement that avoids economy-stressing tax increases and spending cuts scheduled to kick in on Jan. 1.
The use of the word "frank" to describe the talks suggested that both stuck hard to their positions. Key issues center on Obama's demand that upper tax rates rise on household incomes of more than $250,000 and Boehner's call for more spending cuts from the White House.
THIS IS A BREAKING NEWS UPDATE. Check back soon for further information. AP's earlier story is below.
The White House "fiscal cliff" meeting between President Barack Obama and House Speaker John Boehner has ended with no immediate indication of progress from either side.
The two leaders met at the White House Thursday night for about an hour. They made no public comments following the sit-down, their second face-to-face meeting of the week.
Obama and Boehner have so far struggled to break their impasse over taxes. The president wants tax rates to rise on the top 2 percent of income earners, which Boehner opposes.
Obama and lawmakers have until Dec. 31 to avoid going over the "fiscal cliff", an economy-rattling series of tax increases and spending cuts.