The House passed the “on motion to concur in the Senate Amendments”
There were 257 votes cast in favor of the Senate bill and 167 against adoption of the Senate bill. Majority Leader Eric Cantor (R-Va.) voted against the bill. Only 85 Republicans voted yes for this motion.
This represents the first tax increase in over 20 years to pass the House. The President is expected to sign the bill.
During the 1 hour debate time period prior to the vote, Rep. Sander Levin (D-Mich.) stated “This legislation breaks the iron barrier that for far too long has prevented additional tax revenues from the very wealthiest. It raises $620 billion in revenue by achieving the president’s goal of asking the wealthiest 2 percent of Americans to pay more while protecting 98 percent of families. That’s right — that’s what it does. I want to emphasize this contrary to propaganda coming from the other side — it prevents 98 percent of businesses from another tax increase.”
[nlposts blog_id=8 tag=”American Taxpayer Relief Act”]