House Passes Fiscal Cliff Bill

(CNN) - With bipartisan support, the House approved the fiscal cliff bill late Tuesday night after Republican leaders ultimately decided not to try and tack on an amendment to the Senate version of the legislation, which passed in the upper chamber around 2 a.m. ET Tuesday morning.

The package puts off budget cuts for two months and preserves Bush-era income tax cuts for individuals earning less than $400,000 or couples earning less than $450,000.

Shortly after the House approved the bill, President Barack Obama delivered a statement at the White House, saying he will sign the legislation.


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