Congress Passes Fiscal Cliff Bill [VIDEO]

The fiscal cliff fight is over, for now, as the House joined the Senate in approving the deal that spares a majority of Americans from an income tax hike. The House passed the fiscal cliff deal late Tuesday with a vote of 257 to 167.

FOX News Radio’s Rich Johnson reports from Washington:

Mr. and Mrs. America no longer have to worry about the alternative minimum tax, now that it’s indexed for inflation.

(Pickering) “For an average middle income tax payer, it might have meant the difference between getting a refund and owing money.”

Kathy Pickering is a Vice President with tax preparers H&R Block. She says that, along with holding income tax rates for the middle class will help stabilize net incomes, but the payroll tax holiday ends. For someone making $50,000 or $60,000 a year:

(Pickering) “That’s gonna net out to about $50 a paycheck, if they get paid twice a month. It is real money.”

Eben Brown, FOX News Radio.