Senate Approves Fiscal Cliff Deal 89-8

In the early hours of the new year, the U.S. Senate voted and approved the fiscal cliff deal 89 to 8. This is a much wider margin than most could have even predicted, which really puts the pressure on the House of Representatives to pass the bill. The problem is, it’s the House of Representatives, led by Speaker John Boehner who has no control over the ultra-conservative (radical actually) tea party Republicans.

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A Fiscal Cliff Deal? – Not Yet

I hate to be the pessimist in the room, but regardless of all the positive talk today about a potential fiscal cliff deal, nothing is done until congress votes on it. The details of the potential deal includes an extension of unemployment benefits, a patch of the Alternative Minimum Tax (AMT) so that it doesn’t hit middle class families, and extensions of the earned income tax credit and college tax credit for 5 years.

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