Senators spent the weekend trying to craft a new proposal that they originally claimed could be ready as early as Sunday. But Senate Democratic Leader Harry Reid reported late in the day that there was significant distance between the two sides, following a tense afternoon during which Vice President Biden was brought in to referee.
Talks will now push on into Monday -- but President Obama has already made clear he will press Reid to call a vote on a separate White House plan if nothing is produced by then.
The stumbling block Sunday initially appeared to be a provision in the Republican proposal that would change the way Social Security benefits are calculated -- effectively reducing benefits over time.
But while that drew the ire of Democrats, some Republicans indicated they were willing to drop the provision. Instead, they voiced serious concern about a Democratic push to use new tax revenue for new spending.
“The biggest obstacle we face is that President Obama and Majority Leader Reid continue to insist on new taxes that will be used to fund more new spending, not for meaningful deficit reduction," said Alabama Sen. Jeff Sessions, the ranking Republican on the Senate Budget Committee.
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