The U.S. House of Representatives has approved a controversial bill, designed to prevent the country from potentially sliding back into recession. The fiscal cliff deal - passed earlier by the Senate - will prevent nationwide tax hikes and spending cuts from coming into force, at least for the time being - READ MORE http://on.rt.com/677m6i
The House Republicans wanted to amend the bill, but then decided they didn't have enough support to make last-minute changes to the motion. The tug-of-war over the text revolved around a Democrat-promoted increase in income tax for the rich - for the first time in two decades. But analyst Lawrence Freeman says, that in the long run, this bill won't make life any easier for millions of struggling Americans.