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01/02/2013 // West Palm Beach , Florida , US // JusticeNewsFlash // Justice News Flash // (press release)
Washington – Congress approved a measure to help avert the “fiscal cliff” on New Year’s Day. As reported by the Associated Press (AP), the Republican lead House passed the bill 257-167 Tuesday night, with future battles being anticipated between parties over included tax increases and spending cuts.
Included in the bill is a tax rate increase to 39.6 percent from 35 percent for individuals who make more than $400,000 per year, and couples that make over $450,000 per year as well as continued tax cuts for those making below these income levels.
President Barack Obama is quoted by the AP as stating at the White House following the passage of the measure, “A central promise of my campaign for president was to change the tax code that was too skewed towards the wealthy at the expense of working middle-class Americans…Tonight we’ve done that.”
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Url: http://justicenews.visionsmartnews.com/congress-passes-fiscal-cliff-measure_8441.html News Source: JusticeNewsFlash.com – Press Release Distribution