Lawmakers Work To Avert The Fiscal Cliff

, Posted: Thu, December 27 2012 at 8:06 AM, Updated: Thu, December 27 2012 at 4:17 PM

President Obama and lawmakers return to Washington, with just five days left to avert the fiscal cliff.

All eyes will be on the Senate after House Republicans said it's up to Senate leadership to reach a deal.

Meanwhile, House Speaker John Boehner says he's sitting this round out, after failing to get enough House Republicans to support his own plan just before Christmas.

Without a deal, the Bush-era tax cuts will expire January 1 and deep spending cuts will kick in.

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