BREAKING: Senate Passes Tax Cut Deal, 81-19

The Senate has passed the "compromise" tax cut deal made between Obama and congressional Republicans, despite unhappiness from both political sides.

The bill will extend the unpopular Bush tax cuts for the wealthiest Americans, as well as unemployment benefits, and will restore the estate tax for estates over $5 million. AlterNet has covered the most problematic aspects of this package extensively.

The House will vote on the bill on Thursday, but may change provisions relating to the estate tax, resulting in a ping-pong game of legislation bouncing between the two chambers as the clock winds down for the lame-duck session.

 Read more at CNN.

AlterNet / By Sarah Seltzer

Posted at December 15, 2010, 7:38am

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