Senate Passes "Keep Current Tax" Rate Compromise

From Bloomberg - The U.S. Senate passed an $858 billion tax-cut plan, giving bipartisan endorsement to an agreement crafted by President Barack Obama and Republicans that extends Bush-era reductions for all income levels. The 81-19 vote sends the bill to the House, where it will come to the floor tomorrow. The House will vote first on an alternative with a higher estate-tax rate favored by many Democrats. If that measure fails, the House would vote on whether to forward the Senate bill to Obama for his signature. Passage of the alternative estate-tax plan would return the tax issue to the Senate, where Republicans say they will refuse to make any changes. Read full story here:

Senate Passes "Keep Current Tax" Rate Compromise