"Significant differences" stand in way of fiscal cliff deal - Reid

WASHINGTON Sun Dec 30, 2012 11:07pm GMT

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WASHINGTON (Reuters) - U.S. Senate Majority Leader Harry Reid said Democrats and Republicans need to resolve significant differences to reach a deal to averting the U.S. "fiscal cliff" of looming tax hikes and spending cuts.

"There are still significant differences between the two sides," Reid said on the Senate floor, adding that negotiations were continuing.

"There is still time left to reach an agreement and we intend to continue negotiations," he added.

(Reporting by David Lawder; editing by Christopher Wilson)

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