'Cliff' deal passed, without GA. GOP - WALB.com, Albany News, Weather, Sports

'Cliff' deal passed, without GA. GOP

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ATLANTA (AP) - Georgia's Republicans in the U.S. House voted against a last-minute deal to avoid the "fiscal cliff" after the state's two senators voted for it.

The Atlanta Journal-Constitution reports (http://bit.ly/12WMf6C) that all 8 of Georgia's Republicans voted against the bill in the House late Tuesday.

They broke with the state's GOP senators, Saxby Chambliss and Johnny Isakson, who had voted for it just after the new year began.

Among Democrats, John Barrow of Augusta voted no. Sanford Bishop of Albany; David Scott of Atlanta; and Hank Johnson of DeKalb County voted yes.

Democratic Rep. John Lewis of Atlanta did not vote, as he returned home after his wife died Monday.

The last-minute deal in Congress to avoid the "fiscal cliff" sent world stocks climbing Wednesday.

Information from: The Atlanta Journal-Constitution, http://www.ajc.com

But investors liked what they saw. Stocks opened sharply higher on Wall Street after lawmakers averted sweeping cuts in government spending and with a last-minute budget deal.

The Dow Jones industrial average jumped 232 points to 13,336 shortly after the opening bell Tuesday, the first trading day of 2013. That's a gain of 1.8%.

The Standard & Poor's 500 index shot up 29 points, or 2%, to 1,455. The Nasdaq composite rose 82 points, or 2.7%, to 3,102.

Investors have been keeping a close eye on the budget stalemate in Washington and were relieved that a deal was reached. However the late-night budget agreement leaves many issues unresolved and it remained unclear how long the market rally would last. Next up is a fight over the government's borrowing limit.

 

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