House approves tax bill — Pres. Obama expected to sign Friday

Late yesterday, the House voted 277 to 148 to approve the tax bill previously passed by the Senate.

Democrats failed in their attempt to increase the estate tax even more than in the Senate bill which raised the estate tax from zero to a top rate of 35% after a $5,000,000 exclusion.  The amendment failed by a vote of 233 to 194.

According to David M. Herszenhorn, Congress Sends $801 Billion Tax Cut Bill to Obama, NY Times, Dec. 16, 2010, Pres. Obama is expected to sign the bill tomorrow, December 18, 2010.