The U.S. Senate is on the verge of approving President Obama’s controversial tax deal with Republicans. On Monday, the Senate overwhelmingly voted 83 to 15 to end debate on the measure and bring it to a final vote. Under the deal, 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. At the White House, President Obama called the deal a victory for the middle class.

President Obama: “It is a substantial victory for middle-class families across the country who would no longer have to worry about a massive tax hike come January 1st. It would offer hope to millions of Americans who have lost their jobs through no fault of their own, by making sure that they won’t suddenly find themselves out in the cold without the unemployment insurance benefits that they were counting on.”

The measure will go to the House if the Senate approves it as expected today. House Democrats have voiced opposition to the deal and could seek to alter provisions reducing the estate tax.