VIDEO: President Obama Asks Congress to Pass Alternative Plan to Avoid March 1 Sequestration Cuts
President Obama spoke at the White House a short time ago, calling on lawmakers to act on a package that would avoid automatic spending cuts scheduled to go into effect March 1.
Check out more on the story from Associated Press:
WASHINGTON (AP) -- President Barack Obama is asking Congress to come up with tens of billions of dollars in short-term spending cuts and tax revenue to delay automatic spending cuts scheduled to kick in March 1.
Obama said Tuesday he still believes the nation should move forward with a broad package for tax reform and spending cuts. But he says if Congress can't act before the March 1 deadline, lawmakers should at least pass a smaller package to stave off the damaging effects of the across-the-board cuts.
Obama says the proposals he offered House Speaker John Boehner late last year during discussions over the so-called fiscal cliff are still on the table.
Obama isn't placing a time span or a dollar amount on the short-term plan. Officials say he will leave that to Congress.
Watch Obama's remarks: