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Hoyer Seeks To Change Obama's Tax Compromise

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Maryland Democrat and outgoing House Majority Leader Steny Hoyer is pushing for changes to the tax deal worked out between President Obama and Republican leaders.

Hoyer and his House colleagues are letting the Senate move first on the extension of Bush-era tax cuts this week. But the majority leader says he'll try to amend the bill on the House floor.

Rank-and-file Democrats are challenging concessions made by Obama that extend tax cuts for all income levels while also exempting up to $5 million from estate taxes. Hoyer says House Democrats will probably vote on an amendment to strip out or tweak the deal on the estate tax.

"Our caucus believes that the wealthiest in America need to help pay the bill," Hoyer told a group of reporters at the National Press Club.

Hoyer says he hopes an amended version can pass Congress by Friday.

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