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Archive - Dec 31, 2012

DEAL REACHED: Fiscal cliff deal reached

December 31, 2012

WASHINGTON (AP) -- Racing against the clock, the White House reached agreement with congressional Republicans late Monday on a deal to prevent across-the-board tax increases and spending cuts to government programs from taking effect at midnight, according to administration and Senate Democratic officials.

These officials said a New Year's Eve vote in the Senate to ratify the deal was possible later in the evening, barring opposition from majority Democrats.

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