The measure alters automatic spending cuts set to kick in next year... protecting defense programs while making cuts elsewhere.
The final vote was 215 to 209.
But it has little chance of passing the Democratic-controlled Senate.
And if it does, President Obama has promised to veto it.
That bill was one of two the US House considered on the fiscal cliff.
House Speaker John Boehner's so-called "Plan B", a tax increase on families with income over one million dollars, was pulled from a vote Thursday due to lack of support.