Thursday, December 17, 2015

Breaking News: House passes $680 billion tax bill

The House on Thursday voted to pass a $680-billion package of tax cuts, the first of two steps as the chamber tries to wrap up its business for 2015. On Friday, the House will vote on a $1.1 trillion bill that funds the government through September 2016. The Senate is expected to take up both measures on Friday.

2,200 pages, $1.8 trillion, dead of night -passed

The House begins a series of high-profile votes on a massive tax and spending package Thursday, with plenty of angst in the rank and file about the contours of the bi-partisan agreement, and just a smidgen of doubt about how the vote will turn out.
Senior aides in both parties say the nearly $700 billion tax package, which includes a substantial number of popular tax breaks for businesses and individuals, will pass with a large bipartisan majority. Republicans are almost certain to provide the bulk of the votes for the bill, as House Minority Leader Nancy Pelosi (D-Calif.) and Minority Whip Steny Hoyer (D-Md.) are opposed. Roughly 40 Democrats could back the bill, while the overwhelming majority of the House Republican Conference will vote yes.
Read more here.