House Approves Passage of 'Fiscal Cliff' Deal. - News, Weather and Sports for Lincoln, NE; KLKNTV.com

House Approves Passage of 'Fiscal Cliff' Deal.

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By: Channel 8 Newsroom

House Approves Passage of 'Fiscal Cliff' Deal.

Republicans have dropped their demands for additional spending cuts and are holding a House vote on whether to give final congressional approval to the Senate-approved compromise averting ``fiscal cliff'' tax increases and spending cuts.

A decision by the Republican-run House to amend the Senate-passed bill would have complicated prospects for final congressional passage of the measure. Senate Democratic aides have said the Democratic-led Senate, which overwhelmingly approved the compromise early Tuesday, would not return to vote on an amended version of the measure.

The measure would allow tax increases on the highest-earning Americans, but retain decade-old income tax cuts for everyone else.

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