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Tax Bill Sent to the President

Tax Bill Sent to the President

House passes compromise bill from the Senate.

On Thursday night the House, on a 277 to 148 margin, passed the the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. It's the same legislation that overwhelmingly passed the Senate earlier this week 81-19, so it is being sent to President Obama for his signature.

It was questionable if the House would complete it on Thursday, as they started then stopped debate.. Wednesday night the House Rules Committee had decided to allow a vote on changing the estate tax provision to the levels in the previously passed House bill. If approved, the changed bill would then go back to the Senate. If rejected, the House would then hold a separate vote on the Senate version, and with approval send the bill to the President.

Also on Thursday, the House Democratic leadership pulled the bill when it was unclear if enough of their caucus would agree to the rules. Republicans traditionally oppose any rules set by Democratic leaders, even on legislation that has GOP support, arguing they wanted more time to debate and possibly make changes.

Many House Democrats predict voted for the bill, making clear that their initial fury at the prospect of extending Bush-era tax rates even on the highest incomes had given way to acceptance that the White House had negotiated the best compromise it could.

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