{"id":2895,"date":"2013-01-03T13:54:35","date_gmt":"2013-01-03T18:54:35","guid":{"rendered":"http:\/\/therationalprogressive.com\/cms\/?p=2895"},"modified":"2013-01-03T13:54:35","modified_gmt":"2013-01-03T18:54:35","slug":"obama-signs-bill-warding-off-fiscal-cliff","status":"publish","type":"post","link":"http:\/\/therationalprogressive.com\/cms\/2013\/01\/obama-signs-bill-warding-off-fiscal-cliff\/","title":{"rendered":"Obama signs bill warding off fiscal cliff"},"content":{"rendered":"<p><a href=\"http:\/\/therationalprogressive.com\/cms\/2011\/09\/obama-ill-veto-a-one-sided-deal-its-time-to-do-whats-right\/attachment\/420\/\" rel=\"attachment wp-att-420\"><img decoding=\"async\" loading=\"lazy\" class=\"aligncenter size-full wp-image-420\" alt=\"\" src=\"http:\/\/therationalprogressive.com\/cms\/wp-content\/uploads\/2011\/09\/obama19b_custom.jpg\" width=\"218\" height=\"323\" srcset=\"http:\/\/therationalprogressive.com\/cms\/wp-content\/uploads\/2011\/09\/obama19b_custom.jpg 218w, http:\/\/therationalprogressive.com\/cms\/wp-content\/uploads\/2011\/09\/obama19b_custom-202x300.jpg 202w, http:\/\/therationalprogressive.com\/cms\/wp-content\/uploads\/2011\/09\/obama19b_custom-101x150.jpg 101w\" sizes=\"(max-width: 218px) 100vw, 218px\" \/><\/a><\/p>\n<p>President Barack Obama has signed into law a bill to avert the fiscal cliff, a day after the House and Senate approved the much-debated legislation.<\/p>\n<p>Obama, who returned to his family vacation in Hawaii after Tuesday&#8217;s House vote, signed the bill via autopen on Wednesday.<\/p>\n<p>But new battles over taxes and spending await Washington in the next few weeks.<\/p>\n<p>Congress averted that self-built precipice late Tuesday when the House voted to stave off widespread tax increases and deep spending cuts by accepting a brokered Senate compromise. It makes permanent the Bush administration&#8217;s tax cuts for individuals earning less than $400,000 per year and couples earning less than $450,000.<\/p>\n<p>It raises rates on those who make more than that from 35% to 39.6%, bringing back a top tax bracket from the Clinton administration, and will raise roughly $600 billion in new revenues over 10 years, according to various estimates.<\/p>\n<p>The bill also extends unemployment insurance and delays for two months the threat of sequestration &#8212; a series of automatic, across-the-board cuts in federal spending.<\/p>\n<p><strong>MORE:<\/strong>\u00a0 <a href=\"http:\/\/www.cnn.com\/2013\/01\/02\/politics\/fiscal-cliff\/index.html\" target=\"_blank\">Obama signs bill warding off fiscal cliff &#8211; CNN.com<\/a>.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n<hr \/>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>President Barack Obama has signed into law a bill to avert the fiscal cliff, a day after the House and Senate approved the much-debated legislation. Obama, who returned to his family vacation in Hawaii after Tuesday&#8217;s House vote, signed the bill via autopen on Wednesday. But new battles over taxes and spending await Washington in&#8230;<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[16,5,22,20],"tags":[1596,42,87],"_links":{"self":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts\/2895"}],"collection":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/comments?post=2895"}],"version-history":[{"count":1,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts\/2895\/revisions"}],"predecessor-version":[{"id":2896,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/posts\/2895\/revisions\/2896"}],"wp:attachment":[{"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/media?parent=2895"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/categories?post=2895"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/therationalprogressive.com\/cms\/wp-json\/wp\/v2\/tags?post=2895"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}