US Senate approves agreement to avoid fiscal cliff

(MENAFN- Kuwait News Agency (KUNA)) The Senate approved early Tuesday a last-minute deal to avoid the so-called fiscal cliff. The agreement was voted for 89-8 and it will now head to the House of Representatives. U.S. President Barack Obama said in a statement the agreement was passed "with overwhelming bipartisan support today that protects 98 percent of Americans and 97 percent of small business owners from a middle class tax hike. " He stressed that the House "should pass it (the agreement) without delay." He added that "this agreement will also grow the economy and shrink our deficits in a balanced way."

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