The moon rises behind the U.S. Capitol Dome in Washington as Congress works into the late evening, Sunday, Dec. 30, 2012 to resolve the stalemate over the pending "fiscal cliff." (AP Photo/J. David Ake)
A person familiar with the negotiations says Democrats have offered to extend tax cuts for families making up to $450,000 a year and individuals making up to $400,000. President Barack Obama originally wanted the tax cuts to be extended only for families making up to $250,000 a year.
Unless an agreement is reached and approved by Congress by the start of New Year's Day, more than $500 billion in 2013 tax increases will begin to take effect and $109 billion will be carved from defense and domestic programs
The person familiar with the talks requested anonymity in order to discuss the internal negotiations.
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