Monday, Oct 20, 2014Monday, Oct 20, 2014
News
 

US Senate approves bill to avert 'fiscal cliff' after Dec 31 deadline lapsed

Published on Jan 1, 2013 3:11 PM
 
US Senator John McCain (centre) speaks with reporters at the US Senate in Washington late on Dec 31, 2012. The US Senate on Tuesday, two hours after a Dec 31 deadline had lapsed, approved legislation aimed at averting the "fiscal cliff" by stopping most tax hikes and across-the-board spending cuts that were due to begin with the new year. -- PHOTO: AFP

WASHINGTON (REUTERS) - The US Senate on Tuesday, two hours after a Dec 31 deadline had lapsed, approved legislation aimed at averting the "fiscal cliff" by stopping most tax hikes and across-the-board spending cuts that were due to begin with the new year.

The House of Representatives still must approve the measure, possibly on Tuesday.