The President reached an agreement with Republicans and Democrats in Congress on the "fiscal cliff" that prevents a tax hike on 98 percent of Americans and 97 percent of small businesses, while fulfilling the President's promise to ask the wealthiest Americans to begin to pay their fair share to reduce the deficit.

President Obama recorded a video to update supporters like you on what's in the agreement and what it means for you—watch it and share it with friends and family.

It's thanks to people like you who spoke up and contacted your members of Congress throughout this debate that we were able to avoid a crippling tax hike.

As we address our ongoing fiscal challenges, the President will do exactly what he said he would on the campaign trail—working for the middle class and all those fighting to get into it, and building an economy from the middle out, not the top down.

There will be more soon. For now, thanks for all you do, and happy new year.

Share