US Congress passes fiscal cliff deal

US Congress passes fiscal cliff deal The US Congress has passed a budget deal following a late-night vote in the House of Representatives after a dramatic day during which the country seemed poised to tip over the fiscal cliff.

The bill passed the House comfortably, but only because it was supported overwhelmingly by Democrats. A majority of Republicans voted against it, a blow to the authority of the House speaker, John Boehner.

Republicans in the House of Representatives initially baulked at supporting a bipartisan compromise passed in the Senate early on Tuesday, with the party’s leadership divided over how to proceed.
But after the Senate indicated it would not consider any amendments to its bill lifting taxes on the wealthiest Americans, Mr Boehner agreed to put the compromise to a vote just after 10pm on Tuesday.

http://link.ft.com/r/VKY5JJ/OF3M6R/S3NLI4/KQZKU9/Q3BS94/ZH/h?a1=2013&a2=1&a3=1