02:05 - Source: CNN
U.S. hits fiscal cliff at midnight

The key figures involved in fiscal cliff talks have released few details about negotiations since they restarted Sunday afternoon. Vice President Joe Biden and Senate Republican Leader Mitch McConnell took over negotiations on Sunday. Sourves say a big stumbling block has been avoided due to Republicans reportedly dropping their demand to reduce social security “cost of living increases.” National Journal reporter Chris Frates has been working the story from Capitol Hill all night into Monday morning and weighs in on the latest fiscal cliff negotiations.