House Votes to Raise Taxes; Republican Senators Vow Filibuster

The Democrat-led lame-duck House of Representatives voted along party lines Thursday to extend Bush-era tax cuts for individuals earning less than $200,000 and couples making less than $250,000.

Republicans blasted the measure as a job-killing tax hike, saying it would lead to higher levies on small businesses and farmers beginning Jan. 1.

Lets be clear: This is a vote to raise taxes on small businesses," said Rep. Tom Rooney, R-Tequesta. "Despite near double-digit unemployment nationwide and higher rates in Florida, Democrats are looking to kill even more jobs with this massive tax hike."

Rep. Bill Posey, R-Rockledge, said, "When you factor in the higher marginal tax rates, the Obamacare taxes on businesses, higher capital gains and a renewed death tax, you can see taxes on millions of small businesses, which employ millions of Americans, increase from 35 percent to over 45 percent."

Though Republicans couldn't stop the bill in the House, they have the votes to block it via filibuster in the Senate.