Understanding the fiscal cliff agreement (VIDEO)

In the latest episode of the White House White Board, Brian Deese, deputy director of the National Economic Council, explains the bi-partisan deal that was recently completed to avoid the fiscal cliff.

Deese outlines what the deal means for the economy and how it met President Obama’s key economic priorities.

Congressional leaders avoided the fiscal cliff on Tuesday when the House passed the American Taxpayer Relief Act of 2012 that calls, in short, for tax increases to everyone but the wealthiest citizens and reduces the federal deficit by $737 billion.

To help better understand the agreement, FedScoop created a short guide to summarize the bill and its impact on the country.