The U.S. House of Representatives approved a deal late Tuesday to ease portions of the so-called "fiscal cliff," according to the Huffington Post.
How did our local representative in Congress vote? Rep. John Tierney (D-Salem) voted for it, saying that while the bill was "imperfect," it was an important "first step" toward ensuring millions of taxpayers and small businesses didn't face historic tax hikes.
The compromise was approved by the Senate at 2 a.m. Tuesday, and despite talk of rejecting it, the House ultimately passed the bill by a vote of 257 to 167.
U.S. Sens. John Kerry (D-MA) and Scott Brown (R-MA), both supported the measure in the Senate.
“President Obama and the Senate came to an agreement on a deal to prevent the country from going over the fiscal cliff. It was the only bill brought to the House floor for a vote and it is imperfect," Tierney said in a statement released Wednesday morning. "However, this legislation is a first step and it will ensure that millions of middle-class Americans and small businesses will not have the largest tax increase in the history of our country."
"Meanwhile, millionaires and billionaires will pay their fair share to reduce the deficit through a combination of permanent tax rate increases and reduced benefits," Tierney said.
Tierney said the legislation provides some economic certainty and will extend important tax credits for families and small businesses, continuing Medicare for seniors and extending unemployment insurance.
"This bipartisan agreement stopped the country from truly going over the cliff and allows us to continue to invest in education, clean energy and manufacturing that creates jobs and strengthens the middle class as we address our ongoing fiscal challenges,” Tierney said.