House Minority Leader Rep. Nancy Pelosi (D-CA) holds her regular weekly press briefing. On Wednesday, she announced she will stay in the House and continue to serve as Minority leader, if re-elected.
Reporters asked about the impending "fiscal cliff," which includes the expiration of Bush-era tax cuts and the automatic spending cuts required by the Budget Control Act passed last year.
The President is pressing Congress to come to an agreement to extend the middle class portion of the tax cuts and to prevent the automatic budget cuts before the end of the year.