Fiscal Cliff Agreement Now Law
By: Michael C. Fehn
Updated: January 3, 2013
President Obama has signed the bill to avert the Fiscal Cliff.
The House of Representatives passed the bill late Tuesday night, after the Senate approved it.
The new law preserves the Bush-era tax cuts for individuals earning less than 400-thousand dollars and extends unemployment benefits.
The President is in Hawaii, vacationing with his family. A senior administration officials says a copy of the bill was sent to him for review and that he signed the bill electronically. The other option would have been to fly the document to Hawaii.
The House of Representatives passed the bill late Tuesday night, after the Senate approved it.
The new law preserves the Bush-era tax cuts for individuals earning less than 400-thousand dollars and extends unemployment benefits.
The President is in Hawaii, vacationing with his family. A senior administration officials says a copy of the bill was sent to him for review and that he signed the bill electronically. The other option would have been to fly the document to Hawaii.
