Congress Tax Cuts

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Monday, December 13, 2010 - 8:56am

The tax cuts compromise heads for a vote in the Senate, despite concerns voiced by Democrats.

Tax breaks for the rich?

Democrats say they'll swallow hard and vote for that.

But they're still pushing to scale back what they call an excessively generous estate tax.

"We’re not going to hold this thing up at the end of the day, but we do think that simple question should be put to the test," representative Chris Van Hollen of Maryland said.

It would allow the wealthy to pass on 10 million to their heirs with no taxes at all.

Republicans say democrats should stick to the deal their president made.

The White House is confident democrats will bite the bullet and vote "yes."

"The nature of compromise is that you have to accept things that you don't like in order to get things that are very important," said David Axelrod, senior advisor to the president.

Keeping taxes from going up January first will cost just under 900-billion dollars.

If House democrats block this deal, republicans say it'll be the first thing they pass when they take over in January.
 

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