House passes bill, "Fiscal Cliff" averted

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Updated: 1/01 11:19 pm
WASHINGTON (AP) - Legislation to block the "fiscal cliff" is headed to the White House for President Barack Obama's signature. The bill will avoid, for now, the major tax increases and government spending cuts that had been scheduled to take effect with the new year.

Final approval came in the House on New Year's Night. The vote was 257 to 167.

The Senate passed the bill less than 24 hours earlier.

The measure raises tax rates on incomes over $400,000 for individuals and $450,000 for couples, a victory for Obama.

It also extends expiring unemployment benefits for the long-term jobless, prevents a cut in fees for doctors who treat Medicare patients and cancels a $900 pay increase due to lawmakers in March.

Another provision is designed to prevent a spike in milk prices.
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nativejax - 1/2/2013 9:33 AM
2 Votes
Again, we don’t have a “fiscal cliff” crisis because of a tax problem in America. What we have is a spending problem — Obama is a spending addict. Obama criticized Bush for adding $4 trillion to the debt in eight years. Yet Obama added just under $6 trillion in four years. He is on track to add $12 trillion to our debt by the end of his second term– three times more than Bush. And Obama has produced four consecutive trillion dollar plus deficits for the first time in history. Obama is the biggest spender of any politician in world history. But just like with the guns they want to take away, it’s the same story. Every time there’s a crisis, politicians learn the wrong lesson… come up with the wrong solution… and always use the crisis as a reason to take away our freedoms and grow government bigger.

joewW07 - 1/2/2013 6:42 AM
3 Votes
You know what our biggest expense in Washington is?? Obama and his family..I just heard he flied back to Hawaii to be with his family..Why didn't they just fly back with him over the weekend?? The Obama's spent over 1.5 BILLION of tax payer's money in 2011. Just shopping, vaction playing golf and flying around the world...That a pretty good perk for a job that only pays $400,000 a year...
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