"WASHINGTON – A massive bipartisan tax package preventing a big New Year's Day tax hike for millions of Americans is on its way to President Barack Obama for his signature.
The measure would extend tax cuts for families at every income level, renew jobless benefits for the long-term unemployed and enact a new one-year cut in Social Security taxes that would benefit nearly every worker who earns a wage.
In a remarkable show of bipartisanship, the House gave final approval to the measure just before midnight Thursday, overcoming an attempt by rebellious Democrats who wanted to impose a higher estate tax than the one Obama agreed to. The vote was 277-148, with each party contributing an almost identical number of votes in favor (the Democrats, 139 and the Republicans, 138)."
Source: Associate Press, "Bill preventing big tax hikes heads to Obama", By Stephen Ohlemacher (read more here).
It's a Christmas miracle and a blessing: Way to go Congress! I must say that I, for one, am both truly impressed and quite frankly amazed. Somehow, I didn't see the left-wing opposition going down quite so easily. Perhaps the President will be successful in achieving bi-partisan measures during the remainder of his term after all.
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