The Wall Street Journal has a article on the progress made by the Senate to preserve the tax rates of the Bush era. The month of December has seen much debate on preserving the rates from 2001 & 2003 since they are set to expire by year-end. It looks more & more that some form of tax relief will be passed. What we do not know is to what extent additional spending or pork projects will be part of the final bill.
The Wall Street Journal article on the activities in Senate can be found here.