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Obama signs into law bill to avert ‘fiscal cliff’

obama-voices-support-for-approving-r74WASHINGTON — President Barack Obama on Wednesday signed into law the bill to avert the fiscal cliff.

The new law preserves the Bush-era tax cuts for individuals earning less than $400,000 and couples making less than $450,000 per year, and extends unemployment benefits.

The Senate passed the bill Tuesday morning and the House passed it Tuesday night.

The White House received a copy of the bill late Wednesday afternoon, a senior administration official told CNN. Obama, on vacation with his family in Hawaii, directed the bill be signed by autopen.


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    • Common Sense

      Someone better "play frugal" or we all will drown. Can't spend your way to prosperity. Hope the House kills the deal until they have something that will REDUCE THE DEFICIT! More bad politics at work here……Again!

  • Teri Lynne

    It is about time that some compromising was done. Nobobdy was winning when there was no deal. I was disappointed and amazed that the only representative from this state who did not vote for the deal was not a Republican. The only representative from this state who voted no was Democrat Jim McDermott.