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Senate Passes Legislation to Block Fiscal 'Cliff'

Posted at: 01/01/2013 1:42 AM
Updated at: 01/01/2013 7:39 AM

WASHINGTON (AP) - The Senate has passed legislation to block the impact of across-the-board tax increases and spending cuts that make up the fiscal cliff.
    
The vote was an overwhelming 89-8 and came well after midnight on New Year's Day.
    
A House vote is expected before Wednesday.
    
The White House-backed legislation would prevent middle-class taxes from rising, and raise rates on incomes over $400,000 for individuals and $450,000 for couples.
    
It also blocks spending cuts for two months, extends unemployment benefits for the long-term jobless, and prevents a 27 percent cut in fees for doctors who treat Medicare patients.
    
A last-minute addition would also prevent a $900 pay raise for members of Congress from taking effect in March.

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