Will Republicans Abandon No-New-Taxes Pledge?

George Stephanopoulos
Power Players

Bottom Line

The election is over but the fiscal cliff is coming fast — more than $500 billion of tax increases and spending cuts hit January 1st if Congress and the President fail to reach a deficit reduction deal.

In advance of the first face to face meeting between the President and Congressional leaders tomorrow, many of you had questions about the "cliff" and chances of reaching a deal..

Marilyn Ritchie Scourtis Lawhon asked via Facebook "How many Republicans are still honoring Grover Norquist's pledge? How can they work on a compromise under those circumstances?"

That pledge, of course, is an iron clad promise not to raise any taxes. Here's my answer to Marilyn: