House Votes 277-148 to Send Tax Cut Extension Bill to Obama

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The House voted 277-148 late Dec. 16 on a $859 billion bill to extend the 2001 and 2003 tax cuts for two years and set the estate tax at 35 percent through 2012. The legislation (H.R. 4853), which passed the Senate by a vote of 81-19 on Dec. 15, will now head to President Obama for his signature. Democrats were split over the legislation, with many rejecting the bill because it provides too many tax benefits to high-income individuals and wealthy families and others arguing that they will grudgingly accept the legislation in order to keep taxes from rising on everyone.