The Senate continues to lead the way on the tax cuts compromise bill, and is expected to pass it in a vote scheduled for Wednesday morning.

The legislation is based on a deal between President Obama and the GOP, trading an extension of the full Bush tax cuts for extension of term limits on unemployment benefits.

A vocal contingent of liberal House Democrats have opposed the compromise, saying it concedes too much in the way of tax breaks for the wealthy.  Although President Obama has long said he also opposes continued tax concessions to the upper class, he has held there was no other way to extend the middle class tax cuts and unemployment benefits he sought. '

A procedural vote in the Senate Monday put support for the compromise at 83-15, putting pressure on the House to follow suit.

The LA Times reported a meeting between House Democrats on Tuesday evening designed to limit estate tax exemptions for the rich, and potentially also extend unemployment benefits for the same duration as the Bush tax cuts.

Sen. Mitch McConnell, the minority leader, warned them not to waste Congress's time: "This agreement is not subject to being reopened," he said. "I hope our friends in the House will understand that's the best way to go."

Once the Senate votes, the House may then take up the bill as early as Wednesday.  Momentum is now strongly in favor of the bill's passage.