Are most Americans now paying less in taxes?

By: From Wire Reports
By: From Wire Reports

WASHINGTON (AP) - There's no word on when President Barack Obama will sign the bill that staves off the "fiscal cliff" of across-the-board tax increases and cuts in domestic programs.

After Congress passed the bill last night, Obama left for Hawaii to complete his holiday break. Obama can sign the bill remotely using a machine called an "autopen," or the bill can be flown to Hawaii for his signature.

The president is warning Congress that it now must tackle raising the debt limit.

Meanwhile, don't look for a bigger paycheck despite the "fiscal cliff" deal. The bill passed by Congress does not include extending a Social Security payroll tax cut past the end of last year, so workers will now be paying about two percent more in Social Security taxes.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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