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SEN. HARRY REID (D-NEVADA): We have been negotiating now for 36 hours or thereabouts. We did have conversations last night that ended late in the evening between staffs. This morning, we have been trying to come up with some counteroffer to my friend’s [Mitch McConnell] proposal. We have been unable to do that.

I have had a number of conversations with the president, and at this stage we’re not able to make a counteroffer. The Republican leader has told me that — and he’s just said here — that he’s working with the vice president, and he and the vice president, I wish them well.

In the meantime, I will continue to try to come up with something. But at this stage, I don’t have a counteroffer to make. Perhaps as the day wears on, I will be able to. I will say this, I think that the Republican leader has shown absolutely good faith. It’s just that we are apart on some pretty big issues.

Reid was responding to this statement by McConnell:

SEN. MITCH MCCONNELL (R-KENTUCKY): My office submitted our latest offer to the Majority Leader last night at 7:10 p.m. and offered to work through the night to find common ground. The Majority Leader’s staff informed us they would be getting back to us this morning at 10:00 a.m., despite the obvious time crunch we all have. It’s now 2:00 p.m., and we have yet to receive a response to our good-faith offer.