The US Congress has less than 48 hours to reach a deal in a bid to avoid the so-called "fiscal cliff".
President Barak Obama says he is "optimistic" they can reach an agreement before midnight on New YearÂ’s Eve - when across-the-board tax rises and spending cuts come into effect.
Experts say this "fiscal cliff" could tip the US into recession and set back the global economic recovery.
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But President Obama, says if a compromise isn't reached, he will ask for a quick vote on preventing the tax hikes and cuts:
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