Obama lauds House vote on 'fiscal cliff'

Published on NewsOK Modified: January 1, 2013 at 10:41 pm •  Published: January 1, 2013
Advertisement
;

WASHINGTON (AP) — President Barack Obama says an effort to change the nation's tax code that is too skewed toward the wealthy has been achieved with the "fiscal cliff" deal approved in Congress.

The president said in an appearance late Tuesday in the White House that the House vote to prevent a mix of tax increases and spending cuts avoids a problem that could have sent the economy back into recession.

Obama says the deficit is "still too high" and warns that he will not negotiate with Congress over another increase in the nation's debt ceiling.

The House approved Senate-backed legislation preventing middle-class tax increases and spending cuts that technically took effect with the new year.

It represented a triumph for Obama after he campaigned for re-election on higher taxes on the wealthy.


Advertisement


Related Articles

Trending Now



AROUND THE WEB

  1. 1
    VIDEO: 3-year-old gets stuck inside claw crane vending machine
  2. 2
    KOCO: Neighbors post 'no hooking zone' sign near 40th and S Robinson
  3. 3
    Miley Cyrus hospitalized, cancels Kansas City concert
  4. 4
    Barresi opposes bill to cut state testing in social studies
  5. 5
    Oklahoma basketball: Guard Je'lon Hornbeak to transfer
+ show more