The Senate appears headed toward approval of President Obama’s controversial fiscal deal with Republicans amidst an uproar by Democratic members of the House. This week, Obama agreed to extend the Bush-era tax cut for the wealthiest Americans and reduce the estate tax in return for a 13-month extension of jobless benefits and a handful of tax credits for low- and moderate-income Americans. According to the New York Times, at least a quarter of the tax savings under the deal will go to the wealthiest one percent of the population. The only group that will see its taxes increase are the nation’s lowest-paid workers. The Senate has scheduled a test vote on Monday after opening debate on the measure last night. Meanwhile in the House, the Democratic caucus passed a non-binding measure denouncing the tax deal. At the White House, President Obama urged lawmakers to drop their opposition.

President Obama: “The average American family will start 2011 knowing that there will be more money to pay the bills each month, more money to pay for tuition, more money to raise their children. But if this framework fails, the reverse is true. Americans would see it in smaller paychecks that would have the effect of fewer jobs. So as we meet here today to talk about one important facet of our economic strategy for the future, I urge members of Congress to move forward on this essential priority.”