President Barack Obama and Vice President Joe Biden make a statement regarding the passage of the fiscal cliff bill in the Brady Press Briefing Room at the White House late Tuesday evening.
Credit Charles Dharapak / AP
The House of Representatives voted 257-167 late Tuesday to pass a Senate-approved compromise deal that stops large tax increases for 99 percent of Americans, and delays massive spending cuts for two months.
The bill now goes to President Obama, who is expected to sign it into law.
NPR's S.V. Date is reporting on the deal for our Newscast unit. Here's what he says:
"The eventual deal was hammered out by Senate Republican Leader Mitch McConnell and Vice President Joe Biden. It passed the Senate with overwhelming, bipartisan support.
Every year, banks handle tens of millions of transactions. Some of them involve drug money, or deals with companies doing secret business with countries like Iran and Syria, in defiance of trade sanctions.
But if the Justice Department has its way, banks will be forced to change — to spot illegal transactions and blow the whistle before any money changes hands.
Federal prosecutors have already collected more than $4.5 billion from some of the world's biggest financial institutions — banks charged with looking the other way when dirty money passed through their accounts.
Chief Justice John Roberts speaks in Farmington, Pa., in June.
Credit Ann Wilkins / AP
Chief Justice John Roberts wants everyone to know the federal judiciary is doing its part to keep down government costs. Roberts used his year-end report on the state of the courts to point out that the judicial branch consumes "a miniscule portion of the federal budget" — about $7 billion in fiscal year 2012, or two-tenths of 1 percent of the total government budget.
The simplest explanation to what's going on in Washington is that neither the Democrats nor the Republicans command majorities in both Houses and control of the White House and you can throw in political realignment as an explanation. Liberal Republicans and conservative Democrats have been diminished to the point of near extinction. But even so, Democrats and Republicans in Congress in years past somehow managed to make deals and legislate despite profound differences.
The Dow Industrials gained 166 points today. That's about 1.3 percent. Before today, the stock market had been steadily drifting lower, losing ground for five straight days. Joining us now to talk about the market is NPR's Jim Zarroli. And, Jim, of course, we don't know how today's talks in Washington will ultimately turn out, but it does appear that before the markets close today news of a deal was moving the markets. True?
As the hours ticked away before the end of the year, Congress still did not have a final package to vote on or even debate to avert automatic tax hikes and spending cuts. NPR's David Welna, reporting from the Capitol, talks with All Things Considered host Audie Cornish to help us understand what the next day or two may hold.
Originally published on Mon December 31, 2012 3:32 pm
By Gene Demby
Credit The White House
Jeff Jarvis has had enough of the White House's petition site.
The 1-year-old site, We the People, is meant to be a place for Americans to directly entreat the president. Any petition that gathers more than 25,000 signatures in its first month is supposed to generate an official response from the Obama administration.
This is TALK OF THE NATION. I'm Neal Conan in Washington. Less than 10 hours from now, we arrive at the political deadline set by Congress and the president a year and a half ago when they mandated a deal on taxes and spending so awful, so unthinkable, that the prospect would surely force a compromise.