Taxes and spending are on the House and Senate agenda for today. After the Senate passes the President’s tax deal, the House may blow up the compromise by changing the Death Tax. Later this week, Senate appropriators are reportedly trying to sneak through a massive new Omnibus spending bill. They are planning on offering an Omnibus Spending bill as a complete substitute for the Continuing Resolution, a bill to fund the federal government at 2010 levels with some changes. The Omnibus Spending bill was secretly negotiated between House Democrat Appropriators and some Senate Republican Appropriators as a last ditch effort to pass some earmarks and increase spending for fiscal year 2011. Conservatives are also concerned that Senate Majority Leader Harry Reid (D-NV) may try to bring up the New START Treaty early next week.
Today, the Senate resumes debate of the tax compromise bill as an amendment to H.R.4853. Senators Kid Bond (R-MO) and Judd Gregg (R-NH) will give farewell speeches later today. The Senate is expected to complete work on the tax measure today or tomorrow, then they must take up an end of year spending bill before the current measure runs out at the end of the week. The House has 16 Suspension votes scheduled for today and will take up the Senate passed tax bill later this week.
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