Sides reach deal on ‘fiscal cliff’ taxes
Senate heads for night vote; House to take up bill today
Posted: January 1, 2013 at 12:49 a.m.
Senate Minority Leader Mitch McConnell, R-Ky., walks toward the Senate floor Monday in Washington. McConnell said he and the White House were close to a deal on preventing tax increases.
President Barack Obama and Senate Republicans reached a sweeping deal late Monday that would let income taxes rise significantly for the first time in more than two decades, fulfilling Obama’s promise to raise taxes on the rich and averting the worst effects of the “fiscal cliff.”
President Barack Obama speaks about the “fiscal cliff” Monday in the South Court Auditorium at the White House.
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