Washington, D.C., Gridlocked as Fiscal Cliff Approaches

ABC News' Jake Tapper has the latest on the tax reform debacle.
2:22 | 12/03/12

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

More information on this video
Enhanced full screen
Explore related content
Comments
Related Extras
Related Videos
Video Transcript
Transcript for Washington, D.C., Gridlocked as Fiscal Cliff Approaches
And now we turn to the news tonight on the game of dare and double dare in washington. 29 days until america goes over that fiscal cliff which would upend family budgets. Late today democrats and republicans now both have plans on the table. Just as an ordinary citizen who has had it with gridlock says what if all of us did something that made them get to work. Abc's jake tapper on the state of play tonight. Reporter: Yesterday in arlington, texas, data analyst deborah page was watching the sunday political talk shows when she got angry. The president's idea of a negotiation is roll over and do what I ask. We're not going to extend an extension of the tax rates for the top 2%. If I was working the way congress and the president are working, I would probably lose my job. Reporter: So early this morning, page went on to the petition page on the white house website and wrote a petition that would cease paychecks and health benefits for all members of congress and the president until the fiscal cliff is avoided. Unlikely but a reflection of the frustration many voters feel as they watch both sides dig in. The white house demanding higher tax rates and the republicans refusing. They offered an outline for 2$2.2 trillion in deficit reduction mostly through spending cuts and while president obama would not answer questions about the counterproposal -- no deal is better than a bad deal, sir? Thank you. Reporter: -- A senior white house official assailed it as a step backwards. If no tax increase on wealthy nation will go over the fiscal cliff and wall street remains optimistic a deal will be struck so the lack of progress is not yet resulted in a market plunge. But some economists estimate that because of the uncertainty posed by the fiscal cliff, at least 200,000 fewer jobs have been created this year. And, diane, the official deadline for the fiscal cliff is december 31st at midnight when the ball drops in times square but there's actually another deadline. The house of representatives is scheduled to go on winter break a week from friday, so really there are only 11 days to work out a plan as of now, diane. Talk about the clock ticking down. Thanks so much, jake.

This transcript has been automatically generated and may not be 100% accurate.

{"id":17871394,"title":"Washington, D.C., Gridlocked as Fiscal Cliff Approaches","duration":"2:22","description":"ABC News' Jake Tapper has the latest on the tax reform debacle.","section":"WNT","mediaType":"Default"}