World Bulletin / News Desk
US President Barack Obama signed the bill to prevent the country from "fiscal cliff."
The new bill preserves tax cuts implemented by the former President George W. Bush for individuals earning 400 thousand American dollars and below and for families earning 450 thousand American dollars and below annually and also extends expiring jobless benefits.
The bill was passed by the Senate on Tuesday morning and by the U.S. House of Representatives on Tuesday evening.
Obama instructed the bill to be signed by autosignature since he was on holiday with his family.