WASHINGTON, DC-The House of Representatives has sent legislationthat extends the Bush-era tax cuts as well as several otherbusiness-friendly initiatives to President Barack Obama for hissignature.

For the most part it is a mirror image of the $858-billiondeal that passed theSenate earlier this week. The crux of the package extends thetax cut as well as unemployment insurance--along with a new 2%payroll tax reduction for all workers. Energy and other tax breaksthat were expiring this year have also been folded into thepackage. Some House Democrats balked at the last minute, protestinga revision to the estate tax, which exempts families inheriting upto $10 million. Democrats did win some measures of their own, inthe form of government spending on certain projects.

In the end, neither side was completely disgusted or totallyenthralled by the bill, which has largely been pushed by thepresident and the Republican party. The Democrats see it as addingto the nation’s ever-growing national debt, but Republicans wantedthe tax cuts to be made permanent instead of extended for twoyears.