U.S. policy makers entering the final weekend in 2012 with a meeting to discuss the budget negotiations.

The meeting was intended to prevent a tax increase with a value of 600 billion U.S. dollars and state budget cuts that apply automatically in January 2013 or commonly known as the fiscal cliff.

Senate Majority Leader Harry Reid and Senate Minority Leader Mitch McConnell said, they are working hard to reach an agreement on Monday (12/31/2012) local time. The focus of the agreement is to narrow the issue of differences rather than changing list of taxes and budget available.


"There is now approaching the last minute decision. Americans do not have the patience for policies that benefit a particular party and can hit our economy," said U.S. President Barack Obama at the White House.

Obama himself is optimistic to reach an agreement despite previously complained that Congressional action deadline waiting for a decision.