Senate Passes Compromise Tax Package / Tax Cuts Extension, 81-19

By Bonnie K. Goodman

Ms. Goodman is the Editor / Features Editor at HNN. She has a Masters in Library and Information Studies from McGill University, and has done graduate work in history at Concordia University.

OBAMA PRESIDENCY & THE 111TH & 112TH CONGRESS:

THE HEADLINES….

Senate passes tax package: A sweeping tax package negotiated by the White House and GOP leaders sailed through the Senate on a 81-19 vote Wednesday and now awaits action by the House as early as Thursday.

Senate Passes Compromise Tax Package, 81-19: The Senate on Wednesday approved the $858 billion tax plan negotiated by the White House and Republican leaders — the first concrete product of a new era of divided government and acid compromise. The vote was 81 to 19, as Democrats yielded in their long push to end the Bush-era lowered tax rates for high-income taxpayers, and Republicans agreed to back a huge economic stimulus package, including an extension of jobless benefits for the long-term unemployed and a one-year payroll-tax cut for most workers, with the entire cost added to the federal deficit. — NYT, 12-15-10

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