BREAKING NEWS
House gives final passage to fiscal cliff bill
Click to Watch Video
Click to Watch Video
Photographer: WMAR
Copyright 2012 Scripps Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Posted: 01/02/2013
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.
How would the fiscal cliff impact you?
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.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
PRINT
| |
Special Reports
-
SPECIAL REPORT | Day care inspections
SPECIAL REPORT | Thousands of child care center inspections reports are NOW AVAILABLE. Find out what inspectors founds inside day care centers across the state.
-
Inside a Criminal Mind | Jason Scott
SPECIAL REPORT | When it's out of your hands, when your life is at the mercy of an armed, masked man staring down at you from the barrel of a gun in your own home, you grasp at whatever it is you can control; breathing, composure, or faith.
-
SPECIAL REPORT | Bad Medicine
SPECIAL REPORT | ABC2 Investigator Joce Sterman has reviewed thousands of pages of documents for her Bad Medicine report.
Top Stories
-
Fire breaks out inside Home Depot store
Firefighters have extinguished a fire that broke out inside a Home Depot store in Capital Heights.
-
AIG sues ex-U.Va. lax player over claim
-
This week declared 'Museum Week' in city
-
Fire breaks out inside Home Depot store
-
High-tech emergency kits
-
Bracing children for tornadoes
- Stay Connected
