Obama, GOP Agree To Meet Again

A two hour closed door meeting between President Barack Obama and top Republicans on Capitol Hill did not yield a firm agreement on how to resolve the expiring Bush tax cuts, but may have opened the door to more negotiations.

Obama, along with the top four Democratic leaders in Congress, met with Senate Republicans Mitch McConnell (Ky.) and John Kyl (Ariz.) and House Republicans John Boehner (Ohio) and Eric Cantor (Va.) on Tuesday morning to try and reach compromises on a host of key issues.

Following the meeting, Obama called the tone of the session “civil,” but cautioned reporters to not expect any breakthroughs overnight.

“I thought it was a productive meeting, I thought that people came to it with a spirit of trying to work together, and I think it’s a good start as we move forward,” Obama said. “There’s no doubt… differences will remain, no matter how many meetings we have.”

Perhaps no other legislative item has driven as thick a wedge between parties as the tax cuts, which will die without congressional action by the end of the year. Democrats want them extended only for families making less than $250,000 and individuals making less than $200,000 per year. Republicans, on the other hand, want them extended for everyone. The White House has argued that increasing tax rates for the top two percent of earners would create $700 billion over the next ten years. Meanwhile, the GOP has conisistently railed against raising taxes on anyone during a recession in which the unemployment rate is hovering close to 10%.

The president added that he anticipates holding more meetings with Republicans in the coming weeks, possibly even hosting a sit-down with them at Camp David. Treasury Secretary Tim Geither and new OMB Director Jack Lew could end up mediating discussions between parties as they work out the details of an agreement on the tax cuts during the next few weeks.

Obama also said that both parties agreed to try and dial down the intense partisan bickering that has clouded Washington during most of his administration.

“There will be plenty of time for campaigning but right now we’re facing some very serious challenges,” Obama said. “We share an obligation to meet them and that will require choosing the best of our ideas over the worst of our politics.”

Speaking to reporters back on Capitol Hill, Speaker-elect Boehner said the president appeared willing to work with Republicans when they take over the House in January.

“The president and Democrat leaders agreed that the American people want us to create jobs and cut spending,” he said.

Benny Martinez contributed to this story.