It’s been a week since President Obama announced that he’d reached a deal with the Republicans to extend the so-called Bush tax cuts (see H.R. 4853).

Here’s the latest:

On Monday, the Senate voted 85-13 in a cloture motion (don’t ask) to send the bill as amended. As of now, the bill has largely passed (and, upon official vote,  is expected to pass) the Senate in pretty much the form that Obama had negotiated. House Dems, however, haven’t given up, and are discussing moving forward on estate tax changes, even though Senate Republicans have said that such revisions could kill the deal.

One largely unreported upside to the bill is a further expansion of the AMT exemption amounts, up to $72,450/47,450 from the previous $70,950/46,700.

And remember the discussion over the 100% writeoff of investments? Here’s the text, which shows that Obama really did mean deduct it all – provided you got it after September 8, 2010.

(5) SPECIAL RULE FOR PROPERTY ACQUIRED DURING CERTAIN PRE-2012 PERIODS.–In the case of qualified property acquired by the taxpayer (under rules similar to the rules of clauses (ii) and (iii) of paragraph (2)(A)) after September 8, 2010, and before January 1, 2012, and which is placed in service by the taxpayer before January 1, 2012 (January 1, 2013, in the case of property described in subparagraph (2)(B) or (2)(C)), paragraph (1)(A) shall be applied by substituting `100 percent’ for `50 percent’.”.

There are also extensions of the Earned Income Tax Credit, the Child Tax Credit, and the Adoption Credit in the bill.  View all of the Senate changes thus far here.

The Senate vote happens tomorrow. No word yet on when the House vote will happen. Sign up for updates in the box at the bottom right-hand corner of this screen.