Politics | tax cuts President Obama Signs Massive Tax Bill He praises $858B tax cut deal By Evann Gastaldo Posted Dec 17, 2010 3:30 PM CST Copied President Barack Obama stands with Vice President Joe Biden as he speaks about the Afghanistan-Pakistan Annual Review, Thursday, Dec. 16, 2010, at the White House in Washington. (AP Photo/Susan Walsh) The Bush tax cuts live on. President Barack Obama signed the $858 billion tax bill today, praising the new law as a "substantial victory for middle-class families across the country." Before signing the bill, the president reiterated that "there are some elements of this legislation that I don’t like" but said the tax cut package will give a much-needed holiday-season boost to middle class Americans and spur the ailing economy. He called the deal "real money that's going to make a real difference in people's lives." Read These Next Her blood isn't compatible with anyone else's. Some of the most explosive Diddy allegations are dropped. Fan who taunted Ketel Marte's mom has been banned by MLB. NJ lifeguard survives after being impaled by an umbrella. Report an error