UPDATED 16:49 PM EST, December 31, 2012
Highlights of a tentative agreement Monday between the White House and Senate Minority Leader Mitch McConnell, R-Ky., aimed at averting wide tax increases and budget cuts scheduled to take effect in the new year. The measure would raise taxes by about $600 billion over 10 years. Still unresolved is how to avert across-the-board spending cuts set to begin slashing the budgets of the Pentagon and numerous domestic agencies.
Highlights include:
