The US Senate passed a White House-backed deal to avert the 'fiscal cliff' early on Jan. 1, 2013. The legislation will now move to the House of Representatives where a vote is expected in the next 24 hours.
The deal raises taxes on incomes of more than $400,000 for individuals and on incomes of more than $450,000 for couples. The measure also temporarily blocks spending cuts for two months. - The Washington Post