Jan 1, 2013 10:02 AM by MTN News
WASHINGTON, DC - The U.S. Senate rang in the new year with a vote to avoid the so-called "fiscal cliff" after the White House and Republicans reached a deal that keeps taxes low for 99% of Americans.
Anyone making less than $400,000 a year, or a family making less than $450,000 will keep the Bush-era tax cuts already in place. The bill also defers deep spending cuts that were set to kick in Tuesday for two months.
Montana Senator Jon tester reacted to the bipartisan deal, releasing a statement late Monday.
"This deal is far from perfect, but it provides the tax relief Montanans deserve while preventing irresponsible cuts that would hurt our kids and seniors," he said.
"This deal is not the big, long-term, bipartisan solution to cut our debt that the American people expect from Congress. I'll keep working on a responsible plan to cut our debt without jeopardizing our economy," the statement concluded.
Tester voted to pass the bipartisan compromise, which now goes to the U.S. House of Representatives for a vote.
Senator Max Baucus also reacted to the passage of the deal by releasing a statement.
"My Montana bosses gave me clear marching orders: get it done - and that is what this compromise does. It isn't perfect, but it will protect Montana families from tax hikes and give small businesses the certainty they need to grow and create jobs."
It's now up to the House to approve the bill. Speaker John Boehner has yet to endorse the bill, issuing a statement saying a vote would take place when House members have had time to review the bill.