Sen. Bob Corker (R-TN) said Tuesday morning he does not expect a deal to be reached by the end of the week to avert the so-called fiscal cliff. "I'm really surprised at the reporting today," Corker said on CNBC. "Unless something's happened this morning at six o'clock, we're not close to a deal."
President Obama made House Speaker John Boehner (R-OH) a new offer Monday evening that reduces the level of revenue he is demanding from $1.6 trillion to $1.2 trillion and would permanently extend the Bush-era tax cuts for incomes less than $400,000.
Watch Corker's interview (at 3:30 mark):