OBAMA-GOP TAX CUT DEAL PASSES KEY SENATE TEST
If approved by the Senate, the measure would go to the House, where many Democrats are more reluctant to back the compromise, which would extend tax breaks enacted during the Bush administration for taxpayers at all income levels, including the very wealthiest households. Many House Democrats are particularly upset about a provision that would exempt estates worth up to $10 million from a revived estate tax.
Earlier Monday, House Majority Leader Steny Hoyer (D-Md.) said the House may try to amend the terms of the estate tax, a risky move that would sent the bill back to the Senate and potentially upend the bipartisan compromise -- increasing the odds that a host of tax cuts could expire on New Year's Eve.
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Dec. 13, 2010
NOTE: REMEMBER! THE S 510 BILL IS ATTACHED TO THIS BILL !!!!