If elected, Romney wants a say in 'fiscal cliff'

Associated Press

KASIE HUNT, Associated Press

Updated: Oct 19, 2012 3:45 AM

WASHINGTON (AP) — Transition planning in full swing, Mitt Romney's team is quietly talking with government officials and Capitol Hill leaders to develop a plan, if he's elected, to prevent massive cuts to the defense budget and extend tax cuts first passed under President George W. Bush.

The Republican's goal is to put his stamp on legislation to fix the so-called fiscal cliff well before his Jan. 20 inauguration.

The tax cuts are set to expire Jan. 1, and economists in both political parties warn that the reductions in spending combined with higher taxes would likely throw the country back into recession.

Romney has said that if he's elected, he wants President Barack Obama to put off any permanent solution to the country's fiscal woes until after the inauguration.

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