The House of Representatives voted 257-167 to approve the Senate's fiscal cliff bill.
The legislation would avert much of the fiscal cliff's negative near-term economic impact by extending the Bush-era tax cuts for almost all Americans. It would also extend long-term unemployment benefits that were set to expire.
But the agreement leaves Congress facing other issues in coming months that could lead to standoffs: federal borrowing hitting the debt ceiling, the so-called sequester of automatic spending cuts and a continuing budget resolution expiring.
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