January 1st, 2013
10:27 AM ET

Cantor: No decision on whether House will vote Tuesday on fiscal cliff deal

The Senate did its part, so will the House follow suit today and pass a fiscal cliff package?

So far, the answer is, we really don't know.

House Majority Leader Eric Cantor's office says there's no decision yet on whether the House will vote today on the fiscal cliff deal passed by the Senate.

The deal, which passed the Democratic-controlled Senate in an overwhelming 89-8 vote in the middle of the night, would maintain tax cuts for individuals earning less than $400,000 and couples earning less than $450,000. Technically, it would reinstate cuts that expired at midnight.

The bill temporarily extends certain tax breaks, such as the one for college tuition, while making new tax rates permanent.

It would mark the first time in two decades that tax rates jump for the wealthiest Americans - giving some bragging rights to President Barack Obama, who has long insisted on such a move.

But it also leaves him breaking a promise. The president had vowed to raise tax rates for the top-earning 2% of Americans, including those with household income above $250,000.

You can follow the latest developments on the fiscal cliff deal on our Political Ticker blog.

soundoff (25 Responses)
  1. C. K. Justus
    January 1, 2013 at 11:03 am | Report abuse |
  2. Richard Chrappa
    January 1, 2013 at 11:19 am | Report abuse |
  3. Richard Chrappa
    January 1, 2013 at 11:31 am | Report abuse |
  4. saywhat
    January 1, 2013 at 11:49 am | Report abuse |
  5. Hide Behind
    January 1, 2013 at 11:49 am | Report abuse |
  6. saywhat
    January 1, 2013 at 11:53 am | Report abuse |
  7. saywhat
    January 1, 2013 at 11:55 am | Report abuse |
  8. saywhat
    January 1, 2013 at 11:59 am | Report abuse |
  9. Richard Chrappa
    January 1, 2013 at 12:21 pm | Report abuse |
  10. the prophet
    January 1, 2013 at 12:49 pm | Report abuse |
  11. Hide Behind
    January 1, 2013 at 12:55 pm | Report abuse |
  12. chrissy
    January 1, 2013 at 1:34 pm | Report abuse |
  13. Hide Behind
    January 1, 2013 at 1:49 pm | Report abuse |
  14. banasy©
    January 1, 2013 at 2:02 pm | Report abuse |
  15. the prophet
    January 1, 2013 at 3:37 pm | Report abuse |
1 2