. >>> jessica doyle is back from vacation and looking at the big tax cut package passed late last night. >> you got it. talk about burning the midnight oil, right guys? it was late. we are getting all the alerts on our phones. a massive bipartisan tax package has passed in the wee hours in the house. now the measure is on its way to the president for his expected signature. the house gave final approval to the measure just before midnight. here's what the bill does for you. it extends the bush era tax cuts and enacts a one year cut in social security taxes that would benefit nearly every worker who earns a wage. >>> wall street is likely to react to the passage of that measure. yesterday we saw a reaction on a drop of unemployment claims. the dow stands this morning just a little bit below 11,500. added 42 points yesterday. the nasdaq closed up about 20. really nice performance for wall street, we'll take it. >>> hopefully it will continue right into the new year. wouldn't it be great? >>> what do you have coming up for us? >> reporter: today we have a big incentive if you want to finis

jessica doyle has the day off. >> here's alexis christoforous with the business headlines. >>> the federal reserve meets today in washington. wall street is betting the fed will signal it's willing to buy more government bonds if the economy needs the extra stimulus. the fed is committed to buying $600 billion of government debt to keep interest rates low and support job growth. on wall street, stocks finished mixed. the dow rose 18 points ofen the day. the nasdaq down 13. >>> gulf coast residents, affected by the b.p. oil spill, could get a quick payout from the company if they waive their right to sue. the quick pay option is aimed at businesses and people satisfied with the emergency compensation they have received so far or who lack the documentation to file more claims. individuals would receive $5,000 and businesses would get $25,000 within two weeks. >>> orange juice could get more expensive. florida has declared a state of emergency because of the severe cold and damage to crops. there is a concern the weather will damage crops. >>> >>> despite a strong november, a new survey finds

jessica doyle has the day off. >>> here's alexis christoforous with the business headlines. >>> economists predict rates on fixed mortgages will move higher next year. the average rate on a 30-year loan jumped to a six-month high last week and although rates are expected to remain below 5% for sometime, the higher rates go the more unattractive financing will become to some homeowners. >>> attorney general is forcing google to turn over data they say they inadvertently collected with the google mapping service. >>> on wall street the dow added 40 points nile while the nasdaq gained 20 to close at a three year high. employees of ikea can go to work in style. 400 employees were given a silver mountain bike last week, a thank you for a great year. not every business is celebrating a successful year the same way. some wall street banks are asking employees to pay to chip in for their own holiday parties. that's the money watch. for more, head over to cbs."marketwatch".com. >>> a popular dc bargained a new lease on life. a local nonprofit for the blind and those who need help reading may go bel

jessica doyle has the day off. >> here is alexis christoforous with today's headlines. >> reporter: the house finally gets to vote on the tax cut bill today. democrats are considering changes including a vote to raise the estate tax. the bill which overwhelmingly passed in the senate wednesday would save millions of americans a tax hike next year. it would also reduce social security taxes and extend jobless benefits. the government is suing bp and eight other companies in the gulf oil spill disaster. the lawsuit asks that the companies be held liable for all removal, cost and damages caused by the spill. including damages to natural resources with no cap on the dollar amount. >>> on wall street, the dow jones industrial average lost 19 points giving up an early rally. the nasdaq gave back 10 and a half. >>> top discuss at goldman sachs are getting a big belated payday. the ceo lloyd blankfine is expected to collect $24 million in stock next month. it is a delayed payoff from last year and goldman's record setting 2007 bonuses. >>> holiday travel is expected to rise about 3% during the

. >> jessica doyle is back and looking at the tax cut package just passed in the house in the wee hours of the morning. >> reporter: that's right. late night action. taxes will not be going up for millions of americans. right before midnight the house voted 277-148 to pass the tax compromise. president obama worked out with republicans a week ago. the $850 billion measure is on the way to the president for his expected signature. this is no easy road to passage. last night ended days of bitter debate. some tried to impose a higher estate tax than the one the president agreed to. >>> we should be a country that fights for those who really need the help. >>> we should not be a country that says you know what? if you are a billionaire, we want to give you a little bit more. not perfect, but this is the kind of action that most americans voted for last november. >>> here's what the bill does for you. it extends the bush era tax cuts, preventing a new year's tax hike for most americans. also renews jobless benefits for the long-term unemployed and enacts a new one year cut in social security