President Barack Obama has signed a bill that boosts taxes on the wealthiest Americans, while preserving tax cuts for most American households.
The bill, which averts a looming fiscal cliff that had threatened to plunge the nation back into recession, 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 defence and domestic programs.
The Republican-run House approved the measure by a 257-167 vote late Tuesday, nearly 24 hours after the Democratic-led Senate passed it 89-8.
Obama, who is vacationing in Hawaii, signed the bill using an autopen, a mechanical device that copies his signature.
Read more World News
- Road closures and blastingWest Kelowna - 12:47 pm
- 12K eggs gone in 45 secondsWest Kelowna - 1:38 pm
- Garneau talks to veteransKelowna - 8:45 am
- Castanet's week in reviewKelowna - 5:00 am
World Health Organization
World Trade Organization