Told Ya!

So we finally go an extension of the Bush tax cuts last night along with an extension of unemployment benefits.  Here courtesy of The Big Picture is a digest of the deal.

Extend all Bush income tax cuts for two years

• Reduce worker payroll taxes for one year (4.2% in 2011, from the current 6.2% rate)

• More favorable treatment to business investments

• Temporary reinstatement of the estate tax at 35%; 5 million estates and under exempt from estate tax

• Extension of jobless benefits for the long-term unemployed.

Of course we first mentioned this possibility last summer here!

Stocks are set to ramp at the open!