After months of tense negotiations in the US, a deal has finally been done to avert the so-called fiscal cliff.
The agreement to avoid massive spending cuts and tax rises passed the House of Representatives after months of partisan fight.
Taxes won't be increased for people earning less than $400,000 and benefits for the unemployed will be extended for another year.
Al Jazeera's John Terrett reports from Washington, D.C.
Published on Jan 1, 2013