A full two hours after a midnight deadline, the U.S. Senate overwhelmingly passed a deal Tuesday to avert the feared fiscal cliff of tax increases and spending cut.
The bipartisan bill passed 89-8.
Budget cuts will be put off for two months and income tax cuts for individuals earning less than $400,000 or couples earning less than $450,000 are preserved.
The measure now goes to the U.S. House where it faces an uncertain future in the GOP-controlled body. However, the Senate's margin of passage sends a message.