Hoyer Discusses Need to Act to Prevent the Fiscal Cliff on CNBC's "Closing Bell"

“Hopefully [a deal to avoid the fiscal cliff] will come together before the end of the year. I've been working on that. Others have been working on that. Contrary to what I heard Mr. Cantor say, the President of the United States in the 32 years I've been in Congress, has spent more time working with Republicans and frankly with Democrats in the White House around his conference table to try to get to an agreement. The Republicans walked away from the Bowles-Simpson plan. They walked away from the [Vice President] Joe Biden talks. Mr. Cantor himself walked away from those. And they walked away from the [Speaker John] Boehner- [President Barack] Obama agreement. So I'm hopeful that we will come to agreement. I think Moody's is correct - if we don't, we will undermine confidence and undermine credibility of the United States. We need to come to agreement. We need to sit down together and reason together and adopt a balanced plan. That's the trick.”