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December 16, 2010

House to Vote on Tax Cut Deal After Senate Approval
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The U.S. House of Representatives is set to vote on President Obama’s
controversial tax deal with Republicans following its approval in the
Senate. On Wednesday, senators voted 81 to 19 to extend the Bush-era tax
cut for the wealthiest Americans and reduce the estate tax in return for
a 13-month extension of jobless benefits and a handful of tax credits
for low- and moderate-income Americans. At least a quarter of the tax
savings under the deal will go to the wealthiest one percent of the
population. The only group that will see its taxes increase are the
nation’s lowest-paid workers. House Democrats are expected to approve
the measure but with a higher estate tax that would require another
Senate vote.



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