Senate clears fiscal cliff measure
7:36AM Tuesday
January 1, 2013

 

WASHINGTON (AP) - The Senate has passed legislation to block the impact of across-the-board tax increases and spending cuts that make up the fiscal cliff.
 
The vote was an overwhelming 89-8 and came well after midnight on New Year's Day.
 
A House vote is expected before Wednesday.
 
The White House-backed legislation would prevent middle-class taxes from rising, and raise rates on incomes over $400,000 for individuals and $450,000 for couples.
 
It also blocks spending cuts for two months, extends unemployment benefits for the long-term jobless, prevents a 27 percent cut in fees for doctors who treat Medicare patients and prevents a spike in milk prices.
 
A last-minute addition would also prevent a $900 pay raise for members of Congress from taking effect in March.
 

Copyright © 2013 Associated Press

 

SweetJack Deal of the Day

loading...