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Tax Cut Bill Passes Through Senate Vote

Tax Cut Bill Passes Through Senate Vote - Acting with uncommon speed, Congress gave final passage Thursday night of sweeping, bipartisan legislation to avoid a Jan. 1 spike in income taxes for millions and renew jobless benefits for victims of the worst recession in 80 years.
The House passed the measure 277-148 to send the bill to President Barack Obama for signing.
The measure also will cut Social Security taxes for nearly every wage-earner and pump billions of dollars into the still-sluggish economy.

The legislation was the result of a reach across party lines by President Barack Obama and top Republicans in Congress — stubborn adversaries during two years of political combat that ended when the GOP emerged the undisputed winner in midterm elections on Nov. 2.
Rep. Ginny Brown-Waite, R-Fla., called it "a bipartisan moment of clarity" as the House moved toward an expected late night vote.

After forcing a delay in the House early in the day, Democratic critics settled for a separate vote in their bid to toughen an estate tax provision they attacked as a giveaway to the very rich. They were defeated, 233-194, with one vote of "present."

Tax Cut Bill Passes Through Senate Vote

"The president will be able to sign it as soon as he likes," said Rep. Rob Andrews of New Jersey, who added later on the House floor he would support "an imperfect bill" in hopes of stimulating job creation.

Like the Senate, much of the House support came from Republicans. Democrats were deeply divided on the bill. Only a few dozen out of 179 Republicans voted against it.

On the bill's final vote, House Speaker Nancy Pelosi, D-Calif., did not vote; House GOP leader John Boehner, R-Ohio, and Majority Leader Steny Hoyer, D-Md., voted for the bill, and Majority Whip James Clyburn, D-SC, voted against the bill.

Tax Cut Bill Passes Through Senate Vote
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