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Latest updates: House approves fiscal cliff bill

Posted: 11:16 PM, Jan 01, 2013
Updated: 2013-01-01 23:16:29-05
Fiscal

Report: Deal reached to avoid the so-called ‘fiscal cliff’

(CNN) – With bipartisan support, the House approved the fiscal cliff bill late Tuesday night after Republican leaders ultimately decided not to try and tack on an amendment to the Senate version of the legislation, which passed around 2 a.m. ET Tuesday morning.

The package ( PDF ) puts off budget cuts for two months and preserves Bush-era income tax cuts for individuals earning less than $400,000 or couples earning less than $450,000.

The bill now heads to the president’s desk for his signature. Check back here for the latest updates.