WH, LAWMAKERS CLEAR WAY FOR TAX CUT BILL PASSAGE

The White House and key lawmakers cleared the way Thursday night for swift Senate action to avert a Jan. 1 spike in income taxes for nearly all Americans, agreeing to extend breaks for ethanol and other forms of alternative energy as part of the deal.

Tax provisions aimed at increasing production of hybrid automobiles, biodiesel fuel, energy efficient homes, coal and energy-efficient household appliances would be extended through the end of 2011 under the bill.Debate on the expanded measure began almost immediately While there is no precise timetable for passage, a test vote was set for Monday afternoon that appears likely to demonstrate overwhelmingly support for the legislation, which supporters say would help accelerate a sluggish recovery from recession.

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UNHAPPY DEMOCRATS SAY TAX BILL LIKELY TO PASS

Unhappy Democrats say tax bill likely to pass as White House warns of possible recessionSlowly, painfully and reluctantly, congressional Democrats are slogging their way toward acceptance of President Barack Obama's tax cut compromise, which would let rich and poor Americans keep Bush-era tax cuts that were scheduled to expire this month.

After Obama publicly defended the plan for a third day Wednesday, and Vice President Joe Biden met with Democratic lawmakers in the Capitol for a second day, several Democrats predicted the measure will pass, mainly because of extensive Republican support. Rep. Barney Frank, D-Mass., predicted the tax cut compromise "will be passed by virtually all the Republicans and a minority of Democrats." He said he would vote against it.

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TAX CUT DEAL: PRESIDENT OBAMA ANNOUNCES AGREEMENT ON BUSH CUTS

The white house and congressional republicans have reached a deal that will extend the bush tax cuts for all americans for two more years.In a statement this evening at the White House, President Obama spelled out the terms of a major agreement that will also extend unemployment benefits, among several other provisions.

"We have arrived at a framework for a bipartisan agreement. For the next two years, every American family will keep their tax cuts. Not just the Bush tax cuts, but those that have been put in place for he last couple of years that are helping parents and students and other folks manage their bills," Obama said.Sources tell the president pushed for several items in the deal, including a 13-month extension of unemployment benefits beyond the current limit of 99 weeks. That will help some 9 million Americans.

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