Senator Manchin offers fiscal cliff bill

Senator Manchin offers fiscal cliff bill

Sen. Joe Manchin (D-W.Va.) on Sunday introduced a bill he said would “soften the landing” if the nation went over the “fiscal cliff.”

Manchin said his bill, the Cliff Alleviation at the Last Minute Act, — the CALM Act — would slowly phase in the tax rate increases and allow the Office of Management and Budget (OMB) to propose substitute cuts to replace sequestration.

Manchin’s proposal comes as lawmakers neared their year-end deadline to avoid January’s tax hikes and across-the-board cuts. Senate Majority Leader Harry Reid (D-Nev.) said there would be no votes on Sunday, but added that negotiations for a final deal were still underway.

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