Controversial legislation to extend all the Bush-era tax cuts heads to President Obama’s desk today.
The U.S. House gave final approval for the 858-billion-dollar deal late Thursday on a vote of 277 to 148. In addition to extending tax cuts, which were due to expire at the end of this month, the deal crafted by Obama and GOP lawmakers also extends unemployment benefits. The measure is expected to benefit the economy on a short-term basis. However, it’s also expected to add to a 14-trillion-dollar national debt.