The House approved the Senate fiscal cliff bill late Tuesday - 257 votes in favor to 167 against.
The package (PDF) puts off budget cuts for two months and preserves Bush-era income tax cuts for individuals earning less than $400,000 or couples earning less than $450,000.
President Barack Obama delivered a statement at the White House, saying he will sign the legislation.
"This law is just one step in a broader effort in strengthening our economy," Obama said.
OutFront tonight: One man responsible for wrangling Republican votes in the House - Deputy whip, Congressman Tom Cole (R-OK), who serves on both the Budget and Appropriations Committees.