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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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US deal to avoid the 'fiscal cliff' must clear one last hurdle

Political rivals in the US Senate joined forces in the early hours of this morning to agree a deal that should protect the US economy from a sudden shock.

Huge tax rises and spending cuts due to take effect at midnight last night should now be averted, but only if the deal passes one final vote in the House of Representatives.

ITV News' correspondent Lewis Vaughan Jones reports from Washington.

WARNING: This video contain flash photography.

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