Obama Signs Fiscal Crisis Deal into Law

World | January 3, 2013, Thursday // 09:47| Views: | Comments: 0
  • Send to Kindle
Bulgaria: Obama Signs Fiscal Crisis Deal into Law President Obama speaking at the White House after the House vote on Tuesday. Photo by The New York Times

US President Barack Obama has signed legislation called the American Taxpayer Relief Act of 2012, according to reports.

The bill aims to undo or delay much of the fiscal cliff.

The bill boosts taxes on the wealthiest Americans, while preserving tax cuts for most American households.

It also extends expiring jobless benefits, prevents cuts in Medicare reimbursements to doctors and delays for two months billions of dollars in across-the-board spending cuts in defense and domestic programs, Fox News has reminded.

Obama signed the bill into law after the House of Representatives passed it by 257 votes to 167.

It had been passed in the Senate less than 24 hours earlier by 89 votes to eight after lengthy talks between Vice-President Joe Biden and Senate Republicans.

World » Be a reporter: Write and send your article
Tags: fiscal cliff, Barack Obama, US, Senate, house, president
Expats.bg All Are Welcome! Join Now!
Please, log in to post a comment.
» To the forumComments (0)
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria