Monday, July 28th24.3°C
22568
22331

Obama signs fiscal cliff bill

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.

The Canadian Press


Read more World News

21244


Recent Trending





22392

22486


22486



World Quick Links World Discussion Forum
United Nations
World Health Organization
UNESCO
World Trade Organization
NATO
European Union
The Commonwealth
Francophonie
Olympics
Google Earth


Member of BC Press Council


22700