U.S. House Passes Budget Bill, Averts Most Tax Increases

Brendan Hoffman/Pool via Bloomberg

President Barack Obama, left, and U.S. Vice President Joseph "Joe" Biden depart after speaking in the Brady Press Briefing Room at the White House in Washington on Jan. 1, 2013. The House of Representatives passed legislation averting income tax increases for most U.S. workers after Republicans abandoned their effort to attach spending cuts that would have been rejected by the Senate.