President Obama announced late Monday afternoon that he and Republicans have tentatively worked out a plan to extend Bush-era tax cuts for all Americans for two years.
Admitting the agreement “was not perfect,” but that a necessary step for economic recovery. The deal appears to have the support of Senate Republicans.
Democrats in Congress are concerned that such a deal is too generous to the wealthy. However the plan includes concessions to Democrats, including the extension of unemployment insurance benefits for an additional 13 months.
