Congress has finally come through for the American people. After drama-filled, last-minute voting, both the Senate and the House of Representatives approved new legislation to avert the fiscal cliff.
VIDEO: Obama Praises Deal, Says There’s More to Be Done
President Obama is praising the bill that staves off the fiscal cliff tax hikes and spending cuts. The House of Representatives followed the Senate’s lead, and passed the bill late Tuesday.
VIDEO: Obama: Deal Makes Tax Code More Fair
President Obama says the fiscal cliff deal makes the tax code more fair, while helping the US avoid falling back into recession. The President spoke after the House passed the bill Tuesday night.
VIDEO: House Will Vote on Senate-passed ‘Cliff’ Bill
Republicans are dropping their demands for additional spending cuts and will hold a House vote on whether to give final congressional approval to the Senate-approved compromise averting “fiscal cliff” tax increases and spending cuts.
VIDEO: What’s Exactly in ‘fiscal Cliff’ Plan
Now it goes to the House. A bill to stop the across-the-board tax increases and program budget cuts that went into effect at midnight was approved by the Senate early this morning on an 89-8 vote.
VIDEO: Raw: Boehner and Cantor Arrive at House
House Speaker John Boehner and House Majority Leader Eric Cantor arrived at the U.S. Capitol on New Year’s Day following the overnight passage of a Senate bill to avert the sharp spending cuts and tax hikes known as the fiscal cliff.
VIDEO: Senate Passes Fiscal Cliff Deal, 89-8
The fiscal cliff deal is now going to the House of Representatives, after the Senate passed it 89-8 early New Year’s Day. The measure aims to avoid a series of tax hikes and spending cuts, set to kick in with the new year.
VIDEO: Raw: Senate Passes Fiscal Cliff Bill, 89-8
The US Senate voted early New Year’s Day for a measure to avert fiscal cliff tax hikes and spending cuts. The final vote was 89-8. The measure now goes to the House.
VIDEO: Biden: “I Think We’ll Get a Very Good Vote”
Racing the clock, the White House reached an accord with Senate Republicans late Monday to neutralize across-the-board tax increases and spending cuts in government programs due to take effect at midnight, according to key Washington officials.