Obama: 'Tax code was skewed towards the wealthy'

A central premise of my campaign for president was to change the tax code that was too skewed towards the wealthy at the expense of working, middle class Americans. Tonight we have done that.

– President Barack Obama

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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.