In his weekly address, Obama says he wants an immediate resolution, but only if Republicans agree to raise the top tax rates on individuals earning $200,000 or more.

“If we’re serious about reducing our deficit while still investing in things like education and research that are important to growing our economy – and if we’re serious about protecting middle-class families – then we’re also going to have to ask the wealthiest Americans to pay higher tax rates,” he says. “That’s one principle I won’t compromise on.

“After all, this was a central question in the election,” Obama adds, alluding to the fact that he won.