Senate Democratic leaders discussed the House Republicans’ Small Business Tax Cut Act just before the House voted on it this afternoon. The legislation sponsored by Majority Leader Rep. Eric Cantor would provide a one-year, 20 percent tax deduction for companies with fewer than 500 workers, among other provisions.
While it’s expected to pass the House, the bill is expected to die in the Senate. The White House calls the measure too broad and has threatened a veto if it reaches the president’s desk.