WASHINGTON: U.S. President Barack Obama makes a statement in the White House Briefing Room following passage by the House of tax legislation on January 1, 2013 in Washington, DC.
Photographer: Brendan Hoffman/Getty Images
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HONOLULU (AP) - President Barack Obama has signed a bill that boosts taxes on the wealthiest Americans, while preserving tax cuts for most American households.
The bill, which averts a looming fiscal cliff that had threatened to plunge the nation back into recession, also extends expiring jobless benefits, prevents cuts in Medicare reimbursements to doctors and delays for two months billions of dollars in across-the-board spending cuts in defense and domestic programs.
The GOP-run House approved the measure by a 257-167 vote late Tuesday, nearly 24 hours after the Democratic-led Senate passed it 89-8.
Obama, who is vacationing in Hawaii, signed the bill using an autopen, a mechanical device that copies his signature.
Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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