Awaiting House vote on fiscal cliff deal - Fox 2 News Headlines

Awaiting House vote on fiscal cliff deal

Posted: Updated:
MYFOXNY.COM -

The Senate passed the bill in an 89-8 vote but when it entered the House, things became much more complicated. 

GOP leaders immediately expressed concern about its lack of spending cuts and the Republican leader bluntly stated he doesn't support it.

 So what happens now? 

Right now, members of the Senate are debating the bill. The latest estimate is that this vote will happen sometime after 11:00 p.m. which will be nearly 24 hours after we essentially went over the fiscal cliff. 

This caps off a marathon session of negotiations in both chambers. Tuesday night, members of both parties seem to agree the deal is far from perfect but it does save the majority of Americans from getting a tax hike. 

Earlier House Republican leaders said they would not support the bill passed by the Senate in the middle of the night because it does not cut spending. 

The deal includes $620 billion in new tax hikes – with only $15 billion in spending cuts. 

But ultimately, adding spending cut amendments would have delayed a deal even further which is why some House Republicans like Tom Cole of Oklahoma pushed to get the bill passed. 

"It's too late in game. You know there's a point in the deal where it's done. And if you keep trying to tinker with it to make it perfect, then the deal falls apart," said Tom Cole (R-OK).  

House Democratic leaders emphasized then bill's bipartisan support in the Senate.   

"It was a bill that passed in the United States senate 89-8. Tell me when you've had that on a measure as controversial as this," said Nancy Pelosi, House Minority Leader. 

  • The bill permanently extends the Bush Era Tax cuts for families making less than $450,000 a year.  
  • It raises the Death Tax 5 percent but exempts the first $5 million for individual estates.  
  • It extends long term unemployment benefits for another year. 
  • Threats of rising dairy prices also are averted with a dairy subsidy extension.

But the payroll tax will go back to 6.2 percent, a 2 percent increase which will affect everyone's paycheck costing workers making $100,000 a year about $2,000 more. 

Boehner is banking on getting more cuts during the fight over the debt ceiling, which expires in about two months. 

One advisor to the President saying we're about to enter "60 days of nastiness."

  • Your MoneyMore>>

  • Maryland casino to interview workers from closing Atlantic City casinos

    Md. casino eyes workers from closing Atlantic City casinos

    Friday, July 25 2014 4:32 PM EDT2014-07-25 20:32:23 GMT
    AP photoAP photo
    A Maryland casino is looking to hire some of the soon-to-be-jobless Atlantic City casino workers. Maryland Live! is holding job fairs next week at the Sheraton hotel across from the Atlantic City Convention Center. The Hanover, Maryland casino held a similar recruitment effort in January when The Atlantic Club shut down.
    A Maryland casino is looking to hire some of the soon-to-be-jobless Atlantic City casino workers. Maryland Live! is holding job fairs next week at the Sheraton hotel across from the Atlantic City Convention Center. The Hanover, Maryland casino held a similar recruitment effort in January when The Atlantic Club shut down.
  • Dunkin' Donuts cashiers will try to 'upsell' you in the afternoon

    Dunkin' Donuts cashiers will try to 'upsell' you in the afternoon

    Friday, July 25 2014 5:54 AM EDT2014-07-25 09:54:31 GMT
    If an iced coffee from Dunkin' Donuts is part of your afternoon routine, expect a nudge to buy a cookie or doughnut you didn't plan on. Dunkin' Brands CEO Nigel Travis said in a phone interview Thursday that the company is pushing to get its cashiers to "upsell" to afternoon customers. It's part of an effort to increase sales after stores have emptied out after the morning rush.
    If an iced coffee from Dunkin' Donuts is part of your afternoon routine, expect a nudge to buy a cookie or doughnut you didn't plan on. Dunkin' Brands CEO Nigel Travis said in a phone interview Thursday that the company is pushing to get its cashiers to "upsell" to afternoon customers. It's part of an effort to increase sales after stores have emptied out after the morning rush.
  • iPad sales decline

    Are tablets already on their way out?

    Are tablets already on their way out?

    Friday, July 25 2014 5:50 AM EDT2014-07-25 09:50:16 GMT

    Four years ago, tablet owners starting raving about the market's newest piece of mobile technology. Last quarter, Apple iPad sales fell by 9 percent. Still, forecasting the death of the tablet seems premature and incorrect. More likely, all our devices are cross-breeding and evolving until all our calling, emailing, texting, messaging, Internetting, TV watching, all our communication happens on one mobile gadget.


    Four years ago, tablet owners starting raving about the market's newest piece of mobile technology. Last quarter, Apple iPad sales fell by 9 percent. Still, forecasting the death of the tablet seems premature and incorrect. More likely, all our devices are cross-breeding and evolving until all our calling, emailing, texting, messaging, Internetting, TV watching, all our communication happens on one mobile gadget.
Powered by WorldNow

WJBK-TV | Fox 2
16550 West Nine Mile Rd.
Southfield, MI 48075

Main Station: (248) 557-2000
Newsroom: (248) 552-5103

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices