(Bloomberg) The U.S. Senate passed a bipartisan budget deal two hours after income tax cuts expired, reaching an after-deadline deal to undo the potential economic harm of $600 billion in tax increases and spending cuts.
The vote early today in Washington shifts the pressure to House Speaker John Boehner, who hasn’t said if he’ll accept the agreement or change it. He will face difficulty mustering Republican votes for any bill with higher taxes for 2013 than they were in 2012.
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