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Wednesday, January 02, 2013

Congress passes fiscal cliff act

BY PAUL BONNER AND ALISTAIR M. NEVIUS JANUARY 1, 2013 Pulling back from the “fiscal cliff” at the 13th hour, Congress on Tuesday preserved most of the George W. Bush-era tax cuts and extended many other lapsed tax provisions. Shortly before 2 a.m. Tuesday, the Senate passed a bill that had been heralded and, in some quarters, groused about throughout the preceding day. By a vote of 89 to 8, the chamber approved the American Taxpayer Relief Act, H.R. 8, which embodied an agreement that had been hammered out on Sunday and Monday between Vice President Joe Biden and Senate Minority Leader Sen. Mitch McConnell, R-Ky. The House of Representatives approved the bill by a vote of 257–167 late on Tuesday evening, after plans to amend the bill to include spending cuts were abandoned. The bill now goes to President Barack Obama for his signature. http://tinyurl.com/b5lxnx7

1 comment:

Gene Prescott said...

President Obama signed the bill from Hawaii using an auto-pen on October 3, 2012.