The House of Representatives voted 257-167 late Tuesday to pass a Senate-approved compromise deal that stops large tax increases for 99 percent of Americans, and delays massive spending cuts for two months.
The bill now goes to President Obama, who is expected to sign it into law.
NPR's S.V. Date is reporting on the deal for our Newscast unit. Here's what he says:
"The eventual deal was hammered out by Senate Republican Leader Mitch McConnell and Vice President Joe Biden. It passed the Senate with overwhelming, bipartisan support.
The simplest explanation to what's going on in Washington is that neither the Democrats nor the Republicans command majorities in both Houses and control of the White House and you can throw in political realignment as an explanation. Liberal Republicans and conservative Democrats have been diminished to the point of near extinction. But even so, Democrats and Republicans in Congress in years past somehow managed to make deals and legislate despite profound differences.