The House went along with the Senate’s fiscal cliff bill.
In the end Congress did take the country over the fiscal cliff — but the fall was brief, and despite demonstrating unfathomable dysfunction, the House of Representatives, and its GOP leadership, managed to grab hold of a bough and heave itself back up.
At least temporarily.
Less than 24 hours after the Bush tax cuts officially expired, and a day before deep domestic and defense spending cuts were scheduled to take effect, the House adopted Senate-passed legislation extending the Bush tax cuts for income up to $450,000 and staving off the sequester’s painful austerity measures.
The final vote was 257-167. The bill passed thanks to an overwhelming display of Democratic support — 172 Dems voted for the bill, while only 16 opposed. By contrast, only 85 Republicans voted in support of the bill, compared to the 151 — including House Majority Leader Eric Cantor (R-VA) — who voted against.
This is either the best thing for Democrats in that they got the Republicans to blink, or it’s the worst since President Obama caved on his $250,000 limit that he campaigned on and he’s a pushover. It all depends on who you listen to and whose agenda you’re buying into. Whether or not it actually does anything for the economy almost seems secondary.