MSNBC's Luke Russert:
In a non-binding vote Thursday, the House Democratic Caucus voted to reject the president's tax compromise.
This is significant in the sense that it shows how many House Democrats are angry about the compromise with Republicans to temporarily extend the cuts for the highest earners, but it is not binding in regards to legislation that goes to the floor.
This is mostly a symbolic vote, similar to the letter signed by 54 Democrats against the deal. As Russert points out, Democratic leadership in the House still plans to bring the bill to the floor where it will likely pass, though mostly with Republican votes. Democratic leadership will probably whip for the vote, but only insofaras they get enough Democrats to put it over the top -- all other members will be released to vote against it if they so choose.
In the Senate, Majority Leader Harry Reid is saying that the deal will come up for a vote in the next couple of days.
Update: CNN has more on the vote:
Defying President Obama, House Democrats voted Thursday not to bring up the tax package that he negotiated with Republicans in its current form.
"This message today is very simple: That in the form that it was negotiated, it is not acceptable to the House Democratic caucus. It's as simple as that," said Democratic Congressman Chris Van Hollen.
"We will continue to try and work with the White House and our Republican colleagues to try and make sure we do something right for the economy and right for jobs, and a balanced package as we go forward," he said.
The vote comes a day after Vice President Biden made clear to House Democrats behind closed doors that the deal would unravel if any changes were made.
"Wow did the [White House] mishandle this," a senior House Democratic Source told CNN. "Breathtaking. Members have major substantive concerns and they should have gently guided people to the finish line."
Rep. Peter DeFazio of Oregon said: "They said take it or leave it. We left it."
Had added the caucus resolution is technically not binding, but believes House Speaker Nancy Pelosi "will follow the wishes of her caucus."
Despite Van Hollen's and DeFazio's comments, NBC is reporting that Democratic House leadership plans to bring the bill up for a vote after it passes the Senate:
NBC's Chuck Todd reports that House leaders still intend to bring the tax bill up for a vote as long as the Senate passes the legislation.
Update: Now this is interesting -- Speaker Pelosi is saying on Twitter that there won't be a vote until House Dems "work to improve it":
House Dems passed a resolution rejecting the tax cut proposal as currently written-we will work to improve it before having a floor vote.
Now here's the question: what exactly does "work to improve it" mean?
Update: More detail from Speaker Pelosi:
House Democrats share the President’s commitment to providing the middle class with a tax cut to grow the economy and create jobs. The House passed a bill last week to provide tax cuts for all Americans but not a bonus tax cut to millionaires and billionaires. The extra tax cut for the top 3 percent does not create jobs and increases the deficit. Unfortunately, Senate Republicans blocked the bill from being approved by the Senate.
In the Caucus today, House Democrats supported a resolution to reject the Senate Republican tax provisions as currently written. We will continue discussions with the President and our Democratic and Republican colleagues in the days ahead to improve the proposal before it comes to the House floor for a vote.
Democratic priorities remain clear: to provide a tax cut for working families, to create jobs and economic growth, to assist millions of our fellow Americans who have lost their jobs through no fault of their own, and to do this in a fiscally sound way.
Maybe for once Democrats will keep up the fight?