Tax-Cut Deal Price Tag: $868 Billion

The numbers are in on Obama’s tax-cut compromise with the GOP, and they’re not pretty. Senate leaders began debating the measure Thursday night, and unveiled the plan’s estimated cost while they were at it: $868 billion. The Senate is expected to move quickly on the bill in order to avoid an automatic lapse in the Bush-era tax cuts on January 1. The chamber has broad support for the package. The House, though, may be problematic: The House Democratic caucus signaled today that they would not vote for the bill without significant revisions, a process that would likely unravel the tenuous compromise.