With U.S. fiscal cliff deadline nearing, parties still at odds

U.S. President Barack Obama gestures while addressing his first news conference since his reelection, at the White House in Washington November 14, 2012. REUTERS/Larry Downing

WASHINGTON (Reuters) - Republicans in the U.S. Congress on Monday called on President Barack Obama to detail long-term spending cuts to help solve the country's fiscal crisis, while holding firm against the income tax rate increases for the wealthy that Democrats seek.

The White House has been equally firm in its position, threatening to veto any bill that does not include the tax rate increases opposed by Republicans.