Obama confident of tax cut deal before Jan. 1

WASHINGTON (AP) - President Barack Obama says he's ready "to roll up my sleeves" and work with congressional leaders on a tax cut deal before rates are set to rise on Jan. 1.

The president isn't happy that Senate Republicans earlier Saturday blocked legislation that would have extended tax cuts for the middle-class.

But Obama says "we need to get this resolved and I'm confident we can do it." Obama says lawmakers must give the American people "the peace of mind that their taxes will not go up" come the new year. He says that will require compromise by both sides.

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