December 16, 2010

HOUSE PASSES TAX CUTS EXTENSION; BILL HEADED FOR OBAMA'S DESK

Bill Was Passed by a Bipartisan Vote With More Democrats Actually Voting in Favor of the Deal than Republicans After months of heated debate, backroom arm-twisting and White House negotiations, just before midnight the House of Representatives finally passed a $858 billion tax cuts package, including a two-year extension on all of the Bush-era Tax Cuts a 13-month extension for unemployment insurance benefits, and approval of the controversial estate tax break that gives 6600 families a break worth $23 billion.


The compromise that President Obama negotiated with GOP leaders in Congress to avoid a tax-increase on Jan. 1 passed by a healthy, bipartisan vote  277-148, with more Democrats (139) actually voting in favor of the deal than Republicans (138).The bill now heads to the White House for President Obama's signature.
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