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House Democrats try to figure out way forward on tax bill

Sources tell NBC News the Democratic leadership will be meeting in the next hour to try and figure out the best way forward for the president's compromise tax bill.

All indications are that they are going to try and pass this out of the House by tonight.

It is not known whether an entirely new Rule will be constructed or the previous one will be amended.

Something to remember: the previous Rule set the length of debate at three hours. So once the Rule is actually agreed to and passed, there would then be three hours of debate and final voting tacked onto that time.