This measure maintains the tax cuts Americans had in 2012, except for those making more than $400,000 a year.
Those will go up.
The legislation would raise roughly $600 billion in new revenues over 10 years, according to various estimates.
It also extends long-term unemployment benefits that were set to expire.
A new Congress is set to be sworn in Thursday, so the timing was crucial.
If this measure wasn't passed by then, negotiations would have had to start over again.