House Passes Fiscal Cliff Deal

Late Tuesday night, less than twenty-four hours after the Senate passed the fiscal cliff bill, the House joined them.

With a final vote of 257 for and 167 against, the House voted to raise taxes without decreasing government spending.

172 Democrats and eighty-five Republicans voted yes on the bill, while sixteen Democrats and 151 Republicans voted no.

Under the bill, taxes will be increased for those earning more than four hundred thousand dollars a year.

Taxes will also go up for estates.

Jobless benefits for long term unemployed will be extended, for another year, while doctors will not see a lessening of payments they receive from medicare.

Energy efficient and renewable resource companies will also see tax breaks become available for them.

However, the bill did practically nothing to cut government spending, which Republicans had said they would not vote for anything that did not include cuts.

It is also worth noting that this deal is only good for two months, as by that time the fiscal cliff will be back upon the US.