America has escaped the fiscal cliff 2

America has escaped the fiscal cliff 2

This is a step forward in the process of strengthening the US economy, when next February, the country will heat up again with the battle to raise the public debt ceiling, which has now reached 16,400 billion USD.> The US Senate passed the plan

This afternoon (January 2), the US House of Representatives passed a budget plan that opposes tax increases for 99% of Americans.

`This law is just one step in strengthening our economy,` President Obama said.

The US has ended its year-long battle to resolve the fiscal cliff.

The new budget plan will make most American workers permanently enjoy the tax reduction policy from former President George W. Bush.

Michigan Democratic Congressman Sander Levin said: `This policy has broken the steel barrier of increasing taxes on the rich that has existed for too long.`

Previously, Republican lawmakers in the House of Representatives opposed the tax increase plan.

However, the Republican Party immediately turned to the public debt war next February.

The new US Congress will have to act before mid-February to combat the risk of debt default.

US House Speaker John Boehner said after the vote: `Without real reform of welfare programs, control of spending and a healthy tax system, our debt will continue to grow.`

In response, President Obama said he was `very open on issues that require concessions`.

Thuy Linh (according to Bloomberg/CNN)

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