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Senate Debates Tax and Unemployment Bill

Senate Debates Tax and Unemployment Bill

Floor vote expected soon.

Tuesday, the Senate focused on debating the tax cuts and unemployment package after voting on Monday to limit debate.  The bill could soon come up for a floor vote.  Once the Senate passes the bill, HR 4853, could be brought to the House floor one day later. That's where trouble could be waiting as some House Democrats are considering ways to toughen estate tax language. In fact, a Democratic Aide says House leaders have not decided whether or how to amend the bill coming out of the Senate.

Wall Street is closely monitoring the developments, and Republicans have made clear the negotiations could be even tougher if they extend into next year. Once the GOP takes control of the House in the 112th Congress, party leaders could seek a permanent repeal of the estate tax.

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