House Tax Cut Vote Set To Go Down On White House-GOP Proposal

Bill Preventing Tax Hikes Heads to Obama
(WASHINGTON) — A massive Bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would extend Tax Cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage. In a remarkable show of Bipartisanship, the House gave final approval to the measure...

Bill preventing big tax hikes heads to Obama
WASHINGTON — A massive Bipartisan tax package preventing a big New Year’s Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would extend Tax Cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage. In a remarkable show of Bipartisanship, the House gave final approval to the measur...

Bill Preventing Big Tax Hikes Heads to Obama
Friday, December 17, 2010 By Stephen Ohlemacher, Associated Press House Speaker Nancy Pelosi of California heads into a Democratic Caucus meeting on Capitol Hill on Thursday, Dec. 16, 2010. Rep. Barney Frank, D-Mass., is at left and Rep. Bob Etheridge, D-N.C., is at center. (AP Photo/Harry Hamburg) Washington (AP) - A massive Bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would ...

House sends tax deal to Obama unaltered
WASHINGTON — A sweeping plan to extend expiring Tax Cuts and jobless benefits for millions of Americans was on its way to President Obama for his signature after the House of Representatives voted late Thursday night to pass the bill despite opposition from Liberal Democrats. House Democrats, navigating an attempted revolt within their own party that threatened to derail the measure, joined Republicans in turning back proposed last-minute changes to the Estate Tax that would have sent the b...

House sends tax deal to Obama unaltered
WASHINGTON — A sweeping plan to extend expiring Tax Cuts and jobless benefits for millions of Americans was on its way to President Obama for his signature after the House of Representatives voted late Thursday night to pass the bill despite opposition from Liberal Democrats. House Democrats, navigating an attempted revolt within their own party that threatened to derail the measure, joined Republicans in turning back proposed last-minute changes to the Estate Tax that would have sent the b...

Tax Cut Deal Heads to White House
Politico reports: A tax-cut Compromise between President Barack Obama and congressional Republicans - a harbinger of a new era of divided government in Washington - cleared the House around midnight Thursday, sending the $858 billion bill to the president’s desk. The bill, which passed 277 to 148, provides a two-year extension for all Tax Cuts that were due to expire Dec. 31 - including for families earning more than $250,000 a year — and extends Unemployment I

Tax-cut deal wins final OK
WASHINGTON — The House passed an $858 billion package of extended Tax Cuts and stimulus spending late last night, saving at least hundreds of dollars for nearly all Americans and heralding the first broad Bipartisan Compromise of the Obama presidency. The 277-to-148 vote was a political victory for President Obama, who made the case for Compromise over complaints from the base of the Democratic Party. Some longtime Obama backers fought the president’s deal late into the night, conte...

AP: Bill Preventing Big Tax Hikes Passes
From a suddenly tone changing Associated Press: Bill preventing big tax hikes heads to Obama By Stephen Ohlemacher, Associated Press December 17, 2010 WASHINGTON - A massive Bipartisan tax package preventing a big New Year’s Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. Notice the sudden change in tone from the AP. They are no longer calling this ‘Mr. Obama’s Tax Cut deal.’ Maybe that was too big of lie even for t...

US Congress passes contentious Obama tax deal (AFP)
WASHINGTON (AFP) – US lawmakers gave final approval to President Barack Obama's contentious deal with Republicans to avert a New Year's tax hike and extend aid to the jobless, despite a Democratic rebellion. A day after the Senate passed the package by an 81-19 margin, the House of Representatives followed suit 277-148, sending the measure to Obama to sign and reap a restorative Bipartisan victory six weeks after an Elections rout. The 858-billion-dollar measure was expected to g...

House Approves Tax Deal, Virginia Delegation Splits
Last night, the U.S. House of Representatives overwhelmingly approved the Bipartisan tax deal negotiated by the White House and Republican leaders in Congress. The vote was 277-148, with Democrats splitting 139-112 and Republicans 138-36 in favor. Here's the split in the Virginia delegation: According to Jim Moran, "This is the wrong thing to do, easy thing to do. Everybody loves Tax Cuts. Let's just be Santa Claus." In contrast, Gerry Connolly argued, "If we don't pass the extension of the tax...

Congress Passes Obama-Bush Tax Cuts for the Wealthy
After a brief show of Disapproval, the House went along with the Senate to extend George W. Bush’s gift to the yachting community for another two years. President Obama negotiated the Compromise, which will add $858 billion to the Deficit, thanks in part to generous give aways to rich Americans—and not just those who are living. The Estate Tax took a beating in this deal, leaving the first $10 million of grandpa Warbucks’ wealth untouched and taxing the rest at a lower rate th...

Abbreviated Pundit Round-up
Friday opinion. By the way, while the East Coast slept Congress at midnight Thursday approved an $801 billion package of Tax Cuts and $57 billion for extended Unemployment Insurance. The vote sealed the first major deal between President Obama and Congressional Republicans as Democrats put aside their objections and bowed to the realignment of power brought about by their crushing election losses. Steven Pearlstein: That said, a lot of the explanations given by Republicans themselves don't q...

House Passes Temporary Extension Of Bush-era Tax Cuts 277-148
. House passes temporary extension of Bush-era Tax Cuts 277-148 The Hill 12/17/10 12:00 AM ET The House late Thursday gave final approval to a temporary extension of the George W. Bush-era Tax Rates, delivering a significant but politically bruising victory to President Obama. The $858 billion Legislation now heads to the president’s desk for his signature. It extends the Bush Tax Cuts across the board for two years, slashes the employee Payroll Tax by 2 percent for one year, renews the e...

House Resumes Debate on Tax-Cut Bill
The House Representatives, after a dispute among Democrats, on Thursday headed toward anticipated passage of the tax deal that President Barack Obama struck with Republicans that would likely boost The Economy but also deepen the Deficit. Democratic leaders hoped to approve the bill later on Thursday or early on Friday, after the bill snagged in a disagreement over how Liberal Democrats could vent their Disapproval of elements of the deal that they say are too favorable to the rich. The $858 bil...

US Congress passes contentious Obama tax deal
US lawmakers gave final approval to President Barack Obama's contentious deal with Republicans to avert a New Year's tax hike and extend aid to the jobless, despite a Democratic rebellion. A day after the Senate passed the package by an 81-19 margin, the House of Representatives followed suit 277-148, sending the measure to Obama to sign and reap a restorative Bipartisan victory six weeks after an Elections rout. The 858-billion-dollar measure was expected to give the US economy a much-needed ...

US tax cuts given final approval
US MPs have given final approval to President Barack Obama's contentious deal with Republicans to avert a New Year's tax hike and extend aid to the jobless, despite a Democratic rebellion. A day after the US Senate passed the package by an 81-19 margin, the House of Representatives followed suit 277-148, sending the measure to Obama to sign and reap a restorative Bipartisan victory six weeks after an Elections rout. The $US858 billion ($A869.3 billion) measure was expected to give the American e...

House Delays Tax Cuts Vote, but Vote Still Possible Today
ABC News’ John R. Parkinson reports: Speaker of the House Nancy Pelosi and her leadership team are working this afternoon to reach a solution to move forward on the Tax Cuts Legislation after Democratic opposition to proceed on the bill forced the Democratic leadership to pull the Tax Cuts package from the floor. Democratic leadership pulled the Tax Cuts bill from the floor after it became apparent that liberals would not vote to pass the Rule, according to a senior Democratic leadership ai...

Tax Rates To Stay Steady Through The New Year
Rep. Anthony Weiner (D-NY) (Credit: Brendan Smialowski/Getty Images) NEW YORK (CBS 2) — When ball drops in two weeks, Americans will not get hit with Tax Increases, no matter what their economic status is, Kathryn Brown reports. In a rare midnight session, the House of Representatives approved a sweeping Tax Cut package. The deal extends the Tax Rates that were in force for years and were set to expire on December 31 for everyone for two more years, even high-income earners, extends unemp...

Local Lawmakers Split Over Steady Tax Rates Deal
Rep. Anthony Weiner (D-NY) (Credit: Brendan Smialowski/Getty Images) NEW YORK (CBS 2) — When ball drops in two weeks, Americans will not get hit with Tax Increases, no matter what their economic status is, Kathryn Brown reports. In a rare midnight session, the House of Representatives approved a sweeping Tax Cut package. The deal extends the Tax Rates that were in force for years and were set to expire on December 31 for everyone for two more years, even high-income earners, extends unemp...

Congress sends tax legislation to White House
WASHINGTON - Acting with uncommon speed, Congress sent President Barack Obama sweeping, Bipartisan Legislation late Thursday night to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for Victims of the worst Recession in 80 years. The measure also will cut Social Security taxes for nearly every wage-earner and pump billions of dollars into the still-sluggish economy. The 277-148 vote came the day after the Senate cleared the bill, 81-19. The Legislation was the ...

What the New Tax Bill Deal Means for You
Despite objections raised by Democrats, and a lengthy delay of the final vote until late Thursday, the House of Representatives has passed an extension of the Bush-era Tax Cuts, keeping Payroll Tax rates for all wage earners at current levels. The $858 billion bill, a product of negotiations between President Obama and Republican lawmakers in the Senate, also continues a cut in Social Security taxes. That means you'll continue to bring home more in your paycheck. The tax-cut plan extends thro...

Wonkbook: What went right, and what went wrong, in Congress last night
Congress was up late last night. First, something that could've gone wrong didn't. The tax deal passed, and despite a day of peculiar haggling over the way the vote would go down, most House Democrats joined with most House Republicans to protect the deal from amendment and pass it through the chamber. It doesn't have to go back to the Senate, a new round of negotiations isn't needed. It's done. But then, something that wasn't supposed to go wrong did. Harry Reid announced he didn't have enough...

House clears tax-cut bill, on to Obama
WASHINGTON — Congress approved the most significant tax bill in nearly a decade late Thursday, overcoming liberal resistance to continue for two more years Tax Breaks enacted under President George W. Bush and to provide a fresh boost of federal support to the tepid Economic Recovery. The package, brokered by President Obama and Republican leaders, angered many Democrats, who have long argued that the Bush Tax Cuts were skewed to benefit the wealthy. But their last-minute campaign to sca...

House Joins Senate to Extend Tax Cuts
After stalling in the afternoon, the U.S. House voted just after midnight Friday to extend Tax Cuts initially backed by George W. Bush in 2001 and 2003 for all Americans. The bill, which also extends jobless benefits, now moves to President Barack Obama’s desk. While the Tax Cuts extension passed the Senate Wednesday with 81 votes, its fate in the House seemed uncertain Thursday afternoon. Some congressional Democrats, unhappy with the fact that highest-earning Americans were getting the ...

Bill preventing big tax hikes heads to Obama
WASHINGTON (AP) - A massive Bipartisan tax package that prevents a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature. The measure would extend Tax Cuts for families at every income level, renew jobless benefits for the long-term unemployed, and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage. In a remarkable show of Bipartisanship, the House gave final approval to the measure...