By: KLKN Newsroom
8@klkntv.com
President Barack Obama says the ``fiscal cliff'' agreement reached by the Senate is ``the right thing to do for our country'' and is encouraging the House to ``pass it without delay.''
The Senate voted 89-8 early Tuesday to pass legislation to block the impact of across-the-board tax increases and spending cuts scheduled to take effect at the beginning of the new year. The legislation would prevent middle-class taxes from rising, and raise rates on incomes over $400,000 for individuals and $450,000 for couples. Obama says the bill takes a balanced approach to shrinking the U.S. deficit by ``investing in (the) middle class'' while ``asking the wealthy to pay a little more.''
The House is expected to vote on the bill later Tuesday or perhaps Wednesday.
