WASHINGTON (AP) – Congressional leaders from both parties voiced confidence Friday after meeting with newly re-elected President Barack Obama about avoiding year-end “fiscal cliff” tax increases and spending cuts that would hammer the middle class and risk plunging the economy into recession.

House Speaker John Boehner of Ohio said Republicans are willing to consider increased revenue “as long as it is accompanied by spending cuts” as leaders in a divided government get to work on a possible deal after a fierce election campaign.

He presented a framework that one official said called for a deficit down-payment of unspecified size by year’s end, to be followed by comprehensive tax reform and an overhaul of Medicare and other benefit programs in 2013.