The House of Representatives has just passed the Senate's bill to temporarily resolve the tax cut portions of the fiscal cliff debate. CNN has been been broadcasting live video of the vote on Senate's "fiscal cliff" bill from the floor of the House of Representative. Democrats voted for the bill by a large margin. Most Republicans voted against the bill but enough cross the aisle to join Democrats in passing the bill.
The bill just passed 251 votes.
Yea Nay Present
Republicans 82 150
Democrats 167 16
Independent
Totals 245 166
The vote
So there you have it, for better or worse. Now we move onto the the "debt-ceiling cliff," to discuss what reductions to government spending will occur this year to replace the sequestration cut which have been delayed. Our President want an equal amount of additional revenue to match any spending cuts. House Speaker Boehner wants spending cuts equal to debt ceiling extension which would be about $1.2 trillion a year, although that number may be changed some by this vote. House Republicans do not appear to be willing to have any additional revenues.
We shall see soon enough.
Happy New Year.
8:06 PM PT: House passes ‘fiscal cliff’ bill
The House late Tuesday gave final approval to a Senate-backed bill that will let taxes rise for the richest Americans, shield the middle class from tax hikes and extend emergency unemployment benefits, ending Washington’s long drama over the “fiscal cliff.”
The dramatic vote followed a wild day in which the critical measure was assumed for several hours to be headed for defeat because of widespread Republican objections.
Before the vote, House Minority Whip Steny Hoyer (D-Md.) urged his colleagues to vote for the bill “not as a Democrat, not as a Republican, but as an American who understands that our people believe that action is necessary.’’ Yet he expressed some of the reluctance lawmakers on both sides felt over a compromise that seemed to fully please no one.
“I severely regret that this is not a big, bold and balanced plan,” Hoyer said. “We had an opportunity to reach such an agreement in a bipartisan fashion. And we will not reach a big, bold, balanced plan without bipartisanship, because the decisions we’ll have to make will be too difficult not to do in a bipartisan fashion.”
BTW the final vote count was 257 for to 167 against for for as additional vote come in on a delayed count
Ali Velshi summed it up best when he says what an embarrassing day for America.
President Obama will speak at 11:20 p.m. E.T.