So what is really in the fiscal cliff legislation?
Of course, there are the widely-known sticking points the two sides have been haggling over for weeks: extensions of the income tax cuts for middle and low-income earners, the current estate tax rate, and the alternative minimum tax.
But there's also a provision on two- and three-wheeled electric vehicles, renewable energy, and rum.
The American Taxpayer Relief Act of 2012, which passed the Senate early Tuesday morning, is a vehicle for a number of regular year-end tax extenders.
Among the extensions is the excise tax carry-over on rum produced in Puerto Rico and the Virgin Islands. It's a federal tax of which most is paid back to the islands.
Rep. Lee Terry, R-Nebraska, says it would be politically advantageous for President Obama if no deal on the fiscal cliff is met by the end of the year, calling the administration’s proposals to tame the nation’s debt “disingenuous.”
"We come back from the election; we want to get the fiscal cliff resolved,” Terry told CNN on Friday. “But yet we aren't seeing anything from the White House.”
If no deal is reached by the end of the year, automatic federal spending cuts and tax rate increases will go into effect, a situation economists warn could slow economic growth and push the country back into a recession.
Veronica's adoptive parents are petitioning the U.S. Supreme Court for custody. The 3-year-old is currently living with her biological father. Jeffrey Toobin gives his perspective on the likelihood of the case going before the court.
CNN's Arwa Damon reports from Aleppo, Syria, where people are going back to homes after fleeing the violence. Despite the rebels claiming that the government is not in control of 65% of the city, it is still risky to be in the area. "There is still always that constant threat from the sky," says Damon.
Anderson Cooper goes beyond the headlines to tell stories from many points of view, so you can make up your own mind about the news. Tune in weeknights at 8 and 10 ET on CNN.
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