Israeli parliament dissolves, schedules early election

Jerusalem (CNN) -- Israel's parliament has voted to dissolve itself and schedule an election in January, setting the stage for the beginning of an intense political campaign in the Middle Eastern nation.

The election is set for January 22, moved up from October 2013, according to a statement on the Knesset website Tuesday.

Last week, Israeli Prime Minister Benjamin Netanyahu called for the early election after failing to agree on a budget with his coalition partners, saying the vote should be held "as soon as possible" for the good of the country.