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Obama hails US budget deal

Barack Obama has hailed a deal to avoid a "fiscal cliff" of stark tax hikes and spending cuts. The US House of Representatives backed the bill by 257 votes to 167.

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Obama and Republicans reach deal to avert 'fiscal cliff'

A deal has been agreed between the White House and Republican politicians to avert the 'fiscal cliff', an administration source told Reuters.

President Obama and Senate Republicans have reached a deal that will see income taxes rise for the first time in more than two decades, thus averting the worst effects of the 'fiscal cliff', according to the Washington Post.

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