Obama Signs Fiscal-Cliff Deal

It’s over, right? President Obama on Wednesday signed the legislation that will avert the so-called fiscal cliff, the end results of a high-stakes deal that will raise taxes on Americans making more than $450,000 a year. Obama, who rejoined his family on vacation in Hawaii, ordered that the official copy of the legislation be signed via autopen. The Senate approved the legislation in the predawn hours of New Year’s Day, 89–8, and the House followed suit the same day, voting 257–167 in favor of the deal. The legislation avoids a series of draconian spending cuts and tax hikes that were set to go into effect on Jan. 1.