The Senate has achieved the necessary votes to take the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010, better known as the Obama/GOP tax cuts extension deal, to the next level.
Today's vote, which actually will be going on for a few more hours to ensure that all Senators get a chance to make their positions known, was a procedural one.
The upper legislative body voted not on the substance of the bill, but rather on whether they wanted to eventually vote on the tax cuts deal itself.
The Senate vote on the actual legislation could come as early as tomorrow.
If/when it clears the Senate, then the House will get to fight about the bill. And that, my fellow tax geeks, could be real fun.
- Senate to vote on tax cuts deal today
- Obama, GOP strike deal to extend tax cuts
- Reaction to proposed tax deal mixed (vote in the poll!)
- Democrats agree to disagree on tax deal
- House approves extension of middle-class tax cuts in symbolic vote
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