After months of drama and some tense last minute negotiating, Congress has finally passed legislation to avoid the fiscal cliff. The House of Representatives voted 256 to 167 late last night to approve the fiscal cliff deal, sending the bipartisan agreement to The White House for the President's signature.
The vote passed, despite a majority of House Republicans deciding against the bill. After a vote, a rare late night statement from President Obama.
"This law is just one step in the broader effort to strengthen our economy and broaden opportunity for everybody,"said President Obama.
The bill would extend tax cuts for all workers earning less than 400 thousand dollars a year, prevent a tax hike on estates valued at less than five million dollars, and extend unemployment benefits for some two million people.
To avoid the fiscal cliff, congress essentially set up new ones. In two months, they'll need to deal with the automatic spending cuts they put off and there will be a nasty fight over the debt ceiling.