The Senate approved a controversial $858 billion tax cut package Wednesday, overwhelmingly voting to extend the Bush-era tax reductions despite a series of objections from both the left and the right.
The measure, which passed 81 to 19, now advances to the House of Representatives.
Among other things, the package includes a two-year extension of the Bush-era tax cuts set to expire December 31. It also would extend unemployment benefits for 13 months, cut the payroll tax by 2 percentage points for a year, restore the estate tax at a lower level, and continue a series of other tax breaks.
The estate tax — currently scheduled to exempt inheritances up to $1 million and tax amounts above that at a rate of 55% — would be reduced under the tax package to a rate of 35% on amounts above a $5 million individual exemption.
The vote came hours after President Barack Obama urged lawmakers Wednesday to approve the deal, which the White House negotiated with Senate GOP leaders.
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Ladies & gentlemen, I want to make you all aware that this is UNCONSTITUTIONAL!!! According to the US Constitution bills pertaining to spending MUST start in the House and only upon passage are they sent to the Senate.
True!
Article I, Section 7–1
All Bills for raising Revenue shall originate in the House of Representatives; but the Senate may propose or concur with Amendments as on other Bills.