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House Passes Tax Deal

GOP vows to exact spending cuts in upcoming fight on debt ceiling.

By Richard Rubin, Roxana Tiron and James Rowley, Bloomberg | Updated on January 02, 2013

The U.S. House passed a bill undoing income tax increases for more than 99 percent of households, giving a victory to President Barack Obama even as Republicans vowed to fight him in coming weeks for spending cuts in exchange for raising the debt ceiling.

The 257-167 vote just after 11 p.m. yesterday capped a tension-filled final push as Republicans balked at a bipartisan Senate bill. House Speaker John Boehner ordered a vote even though 151 of 236 Republicans, including Majority Leader Eric Cantor, ultimately voted no. Obama said he’d sign it into law.

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