Durbin Says Tax Deal Will Pass House And Senate

According to Illinois Senator Dick Durbin, President Obama's tax cut deal will be passed by both the House and the U.S. Senate. The Democratic Whip told his constituents that he spent the weekend counting votes and is confident that the Democrats have the necessary number of votes to get the bill passed.

We're counting votes in the Senate… And I can say that we have a good cross section of the Senate Democratic caucus from left to right who are prepared to accept this,” Mr. Durbin said.

Many Democrats in the House of Representatives have come out against the deal and have said that they will attempt to keep the bill from passing, even if it means denying a vote on it.

Under the proposed legislation, the Bush-era tax cuts will be extended for an additional two years. In addition, the deal includes a 13-month extension in unemployment benefits and an Estate Tax of 35%.

The major sticking point for Democrats has been the fact that tax cuts will be extended for people making more than $250,000. They had been in favor of cutting taxes for those making less than this amount, while allowing tax cuts to expire for the wealthy.

Senate Majority Leader Harry Reid said last week that he expects to vote on the measure today.