House Passes Fiscal Deal, Averting Tax Increases and Spending Cuts

BREAKING NEWS Tuesday, January 1, 2013 11:19 PM EST

House Passes Fiscal Deal, Averting Tax Increases and Spending Cuts Ending a climactic fiscal showdown in the final hours of the 112th Congress, the House late Tuesday passed and sent to President Obama legislation to avert tax increases on most Americans and prevent large cuts in spending for the Pentagon and other government programs. The measure, brought to the House floor less than 24 hours after its passage in the Senate, passed 257 to 167, with 85 Republicans joining 172 Democrats in voting to allow incomes taxes to rise for the first time in two decades. The bill is expected to be signed quickly by Mr. Obama. READ MORE » http://www.nytimes.com/2013/01/02/us/politics/house-takes-on-fiscal-cliff.html?hp&emc=na