The U.S. House of Representatives is set to vote on President Obama’s controversial tax deal with Republicans following its approval in the Senate. On Wednesday, senators voted 81 to 19 to extend the Bush-era tax cut for the wealthiest Americans and reduce the estate tax in return for a 13-month extension of jobless benefits and a handful of tax credits for low- and moderate-income Americans. At least a quarter of the tax savings under the deal will go to the wealthiest one percent of the population. The only group that will see its taxes increase are the nation’s lowest-paid workers. House Democrats are expected to approve the measure but with a higher estate tax that would require another Senate vote.
House to Vote on Tax Cut Deal After Senate Approval
HeadlineDec 16, 2010