Middle- and lower-income taxpayers are the big winners in the last-minute fiscal cliff deal, but there are also some big losers. The National Journal takes a look.
Middle- and lower-income taxpayers (Winner) -- The Bush tax cuts are still in place for those making $400,000 a year or less, and the Alternative Minimum Tax will be permanently lifted to reflect inflation, sparing close to 30 million taxpayers from atax increase.
The 1 Percent (Losers) -- Americans making more than $400,000 will be subject to higher income taxes under the fiscal cliff deal, and also face a 20 percent tax rate on capital gains and dividends.
AARP (Winner) -- Seniors won't be subject to entitlement cuts come January, despite insistence from Republicans that big cuts to Medicare and Social Security be included in the fiscal cliff deal.
House Speaker John Boehner (Loser) -- Boehner's "Plan B" fiscal cliff deal couldn't get enough support from his own party to pass, and temporarily stalled negotiations.
Senate Minority Leader Mitch McConnell (Winner) -- Initially sidelined as the White House brokered with House Speaker John Boehner, McConnell stepped forward at the last minute to help craft a fiscal cliff deal Republicans could support.
The U.S. Treasury (Loser) -- The United States hit its borrowing limit on Dec. 31, and the Treasury Department will enact what it calls "extraordinary measures" to avoid a government default after lawmakers failed to include raising the limit as part of the fiscal cliff deal.
President Barack Obama/Vice President Joe Biden (Winners) -- Biden played a crucial role in last-minute negotiations with Senate Minority Leader Mitch McConnell, while Obama can say he's kept his promise to keep taxes from going up on middle class Americans.
Deficit Hawks (Losers) -- The fiscal cliff deal reached Jan. 1 did nothing to cut spending and raised taxes on only the wealthiest Americans. Going over the fiscal cliff would have significantly reduced the country's deficit.
The Holidays (Loser) -- The fiscal cliff negotiations cast a pall over this year's holiday season, forcing lawmakers to have to fly back to Washington two days after Christmas and staffers to cancel New Year's plans amid final voting. Everyday Americans also worried about finances and spending cuts to programs many rely on.
A Hurricane making its way through the Pacific Ocean is expected to bring high surf and strong currents to Ventura County south and southeast-facing beaches this week. Rescuers are urging the public to be cautious while entering the water, but surfers are enjoying the bigger sets.