US avoids impact over fiscal cliff

Posted By: Canadian Press · 12/31/2012 6:43:00 PM


There's a deal on the fiscal cliff.    

 U-S President Obama is praising the Senate passage of a bill to keep deep spending cuts and steep tax hikes from kicking in today.    

But he says there's still more work to be done.    

A House vote is expected before tomorrow.    

The White House-backed legislation would leave middle-class taxes alone, but boost rates on incomes over 400-thousand dollars for individuals and 450-thousand for couples.


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