Fiscal cliff averted; more fights loom
Hours after the U.S hit its fiscal cliff, major tax hikes and spending cuts were averted according to CNN. Although the hikes were missed, many new fights now loom in the future for Congress due to their inability to secure a deal before the actual deadline.
The new deal will keep taxes for individuals earning less than $400,000 as what they are now; as for those earning more — taxes will officially rise this year.
“We hope Congress can find a way to end sequester once and for all,” Pentagon spokesman George Little said.
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- “Fiscal cliff” averted — now what? (cbsnews.com)
- Houses approves Senate’s ‘Fiscal Cliff’ deal (wtvr.com)
- U.S. ‘fiscal cliff’ deal passage ends standoff (thehindu.com)
- Bill to avert fiscal cliff heads to House (newsday.com)
