it will require some compromise, but i'm confident that we can get it done. >> joining me now exclusively, top republican in the senate, mitch mcconnell of kentucky, welcome to the studio. good to have you here. >> good morning. >> where are we? are you close to a deal with the president on taxes? >> let's put it this way. we've had more conversations in the last two weeks than we have had in the last two years. i think that's a good sign, growing awareness that the power will be more sim emmeymmetrical next congress. >> what will the deal look like? >> i'm not going to negotiate it here on "meet the press" this morning. but i think you're familiar with all the issues. the big issue on the public mind, of course, is whether or not we're going to raise taxes on anybody in the middle of a recession. and it is almost laughable that we were in session yesterday. it reminded me of the old movie groundhog day. we keep doing the same thing over and over and over again. voting once again on...

president, the economy would be booming. >> let me give you some figures that aren't fantasy. over 7 h00,000 small businesses pay taxes as individuals. they would be hit by raising the top rate above 250,000. 700,000 of our most productive and effective small businesses. that's 50% of small business income and 25% of the workforce