U.S. House approves legislation for Obama-GOP tax compromise

           

The U.S. House adopted a $858 billion tax package negotiated between President Barack Obama and congressional Republicans, sending the measure to the White House for Obama's signature. The measure includes a two-year extension of Bush-era tax cuts for all income groups, a one-year cut in Social Security payroll taxes and a 13-month extension of unemployment benefits. Last-minute amendments aimed at scaling back tax breaks for the wealthy were defeated before the final vote. Full story here

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