I managed to have an electoral tie in political machine 2008, and nothing happened. It winner just defaulted to the person who had the highest popular vote. Since the 2012 is the same thing as the 2008 edition except with less features, I am sure that nothing will happen in this edition either.
^Makes sense, seeing there is no big secret House feature it would make sense that the winner of the tie is the popular vote winner...thanks for telling me, my question is now happily answered...ok, so now try tying the electoral AND popular vote and tell me what happens...kidding but yea, ha...