After all the posturing and for public consumption
Cliffhanger no more? House pushing to final vote
Weary lawmakers in the House pushed at last toward a final congressional vote on legislation to avoid a national "fiscal cliff" of middle class tax increases and spending cuts, a New Year's Night culmination of a struggle that tested divided government to the limit...
In addition to neutralizing middle class tax increases and spending cuts taking effect with the new year, the legislation raises tax rates on incomes over $400,000 for individuals and $450,000 for couples. That was higher than the thresholds of $200,000 and $250,000 that Obama campaigned for. But remarkably, in a party that swore off tax increases two decades ago, dozens of Republicans supported the bill at both ends of the Capitol.
Supporters of the bill in both parties expressed regret that the bill was narrowly drawn, and fell far short of a sweeping plan that combined tax changes and spending cuts to reduce federal deficits. That proved to be a step too far in the two months since Obama called congressional leaders to the White House for a post-election stab at compromise. http://www.charter.net/news/read.php?rip....org%3E&ps=1018