Shutdown Averted but ‘Fiscal Cliff’ Awaits
WASHINGTON (AP) - The prospect of a one-two punch of tax increases and slashing, automatic spending cuts will still confront lawmakers when they return to Washington after Election Day.
The House on Thursday passed a six-month stopgap spending bill to keep agencies running past the end of the budget year, the elections and into the spring. That effectively scratches a major item from Congress' to-do list heading into a potentially brutal postelection session.
The bipartisan House vote for the measure sent it to the Senate, which is expected to clear the bill next week for President Barack Obama's signature.