White House, Senate reach fiscal-cliff deal

http://www.marketwatch.com/story/white-house-senate-reach-fiscal-cliff-deal-2012-12-31?link=MW_home_latest_news

The White House and Senate Republicans have reached a deal to avoid the fiscal cliff, multiple reports said Monday night, just hours ahead of a midnight deadline. The deal -- which would need to be approved by both chambers of Congress -- would reportedly delay across-the-board spending cuts by two months in addition to raising taxes on incomes of $450,000 and above. A Senate vote could come late Monday. The House has adjourned until Tuesday, and lawmakers could vote after reconvening at noon Eastern time. Reports said Senate Majority Leader Harry Reid and House Minority Leader Nancy Pelosi have signed off on the agreement.