Follow Barack Obama prior and during his tenure as the 44th President of the United States. Read about my personal observations along with every day facts as they happen. This blog will only submit factual information about the first black President, now in his 2nd term of office.
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FISCAL CLIFF AVERTED - CONGRESS PRESENTS A BILL TO THE PRESIDENT

Tuesday, January 1, 2013

At 10:00 PM CT tonight, Congress has approved a bill to avoid the Fiscal Cliff. The bill is retroactive, so it would be like never going over the cliff.  The House voted 257-167 to pass a last-ditch Senate compromise to avert the fiscal cliff.  Originally, the President wanted higher taxes to kick in for people making $250,000 per year, but the new deal, now approved by Congress, allows Bush-era income tax cuts for individuals earning less than $400,000 or couples earning less than $450,000. It temporarily puts off budget cuts for the next two months. The President, who most likely is hesitant to sign the bill, will do so. since the bill has bi-partisan approval, He is expected to make comments on the bill in less than 10 minutes from now, at around 10:20 PM CT. The passing of the bill does show at least a good start for approving legislation, but much more work is left to do, as now the Congress is immediately faced with approving a new budget by the end of January, or the government will run out of money.

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