Tax Compromise

Tuesday, December 14, 2010 - 9:29am

Lawmakers may have reached a compromise, but no one is completely happy.

That's what compromise looks like in Washington. Feeling a sense of urgency, Iowa Senator Chuck Grassley said, "We are down to the wire and we need to act."

Senate Democrats and Republicans, in a test vote, overwhelmingly passed President Obama's tax compromise that keeps taxes low for the middle class and the rich and gets unemployment checks flowing again.

Arizona Senator John McCain said, "I'll vote for it, but it's not what the people said they wanted done on November 2nd."

Montana Senator Max Baucus said, "Plain and simple, this bipartisan compromise is about creating jobs."

The vote drew praise from the White House.

President Obama said, "This proves that both parties can in fact work together to grow our economy and look out for the American people."

It's a tax deal no one is completely happy with.

Missouri Senator Claire McCaskill said, "I held my nose in many ways, very expensive. There's goodies in there that I'm not pleased about."

Like the 35% Estate Tax, which would've been 20 percent higher without this deal.

Some House Democrats say unless it's stripped, they'll never vote "yes."

House Majority Leader Steny Hoyer said, "There have been a number of members who have said that to me, but by no means a majority of the Democrats have said that."

The Senate's final vote could happen as early as today.

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