House Dems Reject the Tax Cut Deal

Well, I think this is how the Tax Cut Deal may change. The House Dems rejected the deal and wants more changes

In a meeting on Thursday morning, the House Democratic caucus rejected the president's proposed deal on the Bush tax cuts but did not fully submarine the possibility of its passage, multiple sources tell The Huffington Post.

Members, by voice vote, passed a motion to reject the deal as currently written. The motion had been put forward by Reps. Peter DeFazio (D-Ore.) and Lloyd Doggett (D-Tex.) and was seconded, informally, by Reps. Chris Van Hollen (D-Md.), Marcy Kaptur (D-Ohio) and Jay Inslee (D-Wash.).

"It was an indication of disapproval and a rejection of the deal as currently written," said one House Democratic aide.

The vote, which was conducted with something less than a full caucus present, was as much a repudiation of the substance of the deal as the White House's handling of it. According to sources, several members spoke out about the provision that deals with the estate tax, calling it too generous to the wealthy in its current incarnation. But there was also evident frustration with the administration for essentially cutting House Democrats out of the negotiations.

As we speak a counter proposal is being drafted.  This may also turn out to be in Obama's favor. See here, how this may be the game changer for the Dems.