Senate Approves Fiscal Cliff Deal, Averting Crisis

In rare New Year's session, senators vote 89-8 to raise taxes on the wealthy; Obama calls on House to hold session 'without delay' to approve vote.

The Senate moved the U.S. economy back from the edge of a "fiscal cliff" on Tuesday, voting to avoid imminent tax hikes and spending cuts in a bipartisan deal that could still face stiff challenges in the House of Representatives.