Update: It looks like the deal will pass. The House Democratic Caucus has voted to reject President Obama's compromise tax deal. While this doesn't necessarily scuttle the whole tax deal, it is "highly unlikely" that the tax-cut agreement will come to the floor as is, according to senior Democratic aides. A tax compromise could still pass if an overwhelming majority of Republicans voted for it alongside several dozen Democrats. The White House responds: "The House and Senate are working through the normal process of bringing a bill forward, and we are confident that the major components of the tax framework that we fought for will remain in the final package brought to the floor and ultimately passed by Congress," The Senate is proceeding to consider the bill this afternoon.
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