Obama has extended some provisions which particularly benefit workers. The earned income tax credit, child tax credit and extended unemployment insurance have all been extended for a year (though, in contrast, most of the tax measures are permanent).
The package will act as a drag on the economy. “Combined with higher taxes on the rich and previously agreed federal spending cuts, federal fiscal tightening will… amount to 1-1.5% of GDP in 2013, with most of that contraction felt in the first half of the year”. (The Economist) “The market likes the fiscal-cliff tax deal”, reported Business Week (2 January). Yet, in the House of Representatives, a majority of Republicans voted against the pact (151 to 85).