Passed by the Senate. If the House passes (as it is expected they will):
Taxes are going up for individuals who make more than $400,000 and couples who make more than $450,000. So, taxes are being raised on the top two percent of Americans just as the President promised.
Taxes for the middle class, or people earning less than $250,000 at least, are largely protected.
Estate taxes are rising from 35 percent to 40 percent. Democrats were hoping to take it to 45 percent. Another aspect of the deal also maintains that inherited estates of $5 million for individuals and $10 million for couples to go untaxed.
The spending cuts for the military and domestic programs expected to come with the fiscal cliff have been delayed for two months. So we'll have to take up another battle in March, essentially.
Federal farm policies are extended until September, averting the so-called "dairy cliff" that was going to trigger a doubling in milk prices. A win for farmers, and cereal enthusiasts, everywhere.
A planned pay raise for Congress is cancelled.
And others, but these are the highlights
