Here's the latest from The Hill
Democrats are expected to discuss a plan to hold test votes on several tax proposals.
One proposal would be to extend the Bush tax cuts only for families earning less than $250,000; the second, sponsored by Sen. Chuck Schumer (D-N.Y.), would extend tax rates only for families earning less than $1 million; a third proposal sponsored by Senate Republican Leader Mitch McConnell (Ky.) would extend rates for all tax brackets.
Each of the three measures is expected to attract fewer than the 60 votes needed to overcome procedural hurdles.
Lawmakers are then expected to vote on a fourth proposal put together by Treasury Secretary Timothy Geithner, White House budget director Jack Lew and four congressional negotiators. They are considering a tentative deal that would extend all of the Bush tax cuts for only two years and extend federal unemployment insurance for a year, according to congressional sources.