It looks like a compromise deal is in place, or very nearly completed, for Congress to help the country avoid the so-called fiscal cliff. But no vote will happen on the deal tonight.
That means the country will, however briefly, pass over the fiscal cliff Congress set up earlier this year. The compromise bill will most likely limit the damage to social programs and remove the tax increases the cliff includes.
The compromise plan will extend tax cuts for families making more than “close to half a million a year,” The Atlantic reports, which is a level higher than President Barack Obama and Congressional Democrats wanted. That’s a victory for Republicans, although other parts of the compromise will likely count as losses.
See live updates at The Atlantic and read their story here.
