updated 12/20/2012 9:22:47 PM ET 2012-12-21T02:22:47

WASHINGTON (Reuters) - Following the collapse of congressional Republicans' "Plan B" tax cut bill, the White House pledged on Thursday to work with Congress to avoid year-end "fiscal cliff" tax hikes and spending cuts and said President Barack Obama is hopeful a deal can be reached quickly.

"The president will work with Congress to get this done and we are hopeful that we will be able to find a bipartisan solution quickly that protects the middle class and our economy," White House spokesman Jay Carney said in a statement.

(Reporting By Mark Felsenthal, Editing by Stacey Joyce)

(c) Copyright Thomson Reuters 2012. Check for restrictions at: http://about.reuters.com/fulllegal.asp

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