Senate approves deal to avoid fiscal cliff

POSTED: 2:14 AM Jan 01 2013   UPDATED: 4:44 AM Jan 01 2013

The U.S Senate approved a deal early Tuesday morning that would avoid the fiscal cliff, a set of steep spending cuts and tax hikes set to kick off at the start of 2013.

The U.S. House, however, would not vote on the deal until Tuesday afternoon at the earliest, sources said.