UK & World News
US Fiscal Cliff: House Vote Imminent
A vote on whether to give final approval to a bill which will stave off a "fiscal cliff" of drastic taxation and spending cuts will go ahead shortly.
The House vote comes after Republicans dropped their demands to amend the bill to incorporate additional spending cuts.
The bill was passed by the Senate in the early hours of Tuesday by 89 votes to eight after lengthy talks between Vice-President Joe Biden and Senate Republicans.
It was then passed to the House for a vote which will give it final approval.
The bill will raise taxes for the wealthy but prevents tax hikes for the poor and middle classes.
It will also put off for two months more than $100bn (£62bn) in automatic spending cuts that were set to kick in this week.
It would also extend unemployment benefits for the long-term unemployed.
Mr Obama has praised the agreement, saying: "While neither Democrats nor Republicans got everything they wanted, this agreement is the right thing to do for our country and the House should pass it without delay."