THE PROGRESSIVE REVIEW - January 3, 2013

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*-- 'Fiscal cliff' bill delays budget cuts --*
WASHINGTON - U.S. budget cuts set to take effect Wednesday were delayed as Congress passed a "fiscal cliff" bill that raised tax rates on the rich with Republican support.

The bill, sent to President Barack Obama for his signature, averts big income tax increases on most Americans.

It also keeps benefits flowing to 2 million unemployed workers and delays for two months automatic cuts to the Defense Department and other agencies that had been set to take effect Wednesday.

But it also lets tax rates go up on household income and investment profits over $400,000 for individuals and $450,000 for couples. Not since 1991 have congressional Republicans supported such a move.

The measure was approved by the House 257 to 167 shortly before 11 p.m. EST, with 85 Republicans joining 172 Democrats in the majority. Voting no were 151 Republicans and 16 Democrats.

Speaker John Boehner, R-Ohio, who rarely takes part in roll calls, voted in favor.

Majority Leader Eric Cantor of Virginia and Rep. Kevin McCarthy of California, the No. 3 Republican, voted no.

Budget Chairman Paul Ryan, the 2012 Republican vice presidential nominee, supported the bill.

The measure passed the Senate early Tuesday morning by an overwhelming 89-8 vote. It was supported by nearly all Senate Republicans, including some of the most conservative members, including Tom Coburn of Oklahoma and Pat Toomey of Pennsylvania.

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