Survey: Most Americans Favor Senate-Passed Tax Package

A new survey says six in 10 Americans approve of a tax package passed by the Senate on Wednesday, that would extend George W. Bush-era tax breaks for the wealthy and unemployment benefits, as well as cutting payroll taxes.

According to the Wall Street Journal/NBC News poll, nearly 70% of Republicans and 54% of Democrats are in favor of what's widely viewed as a compromise between President Barack Obama and Republican Party members. The package, valued at about $858 billion, was passed by the Senate with a more than a 4-to-1 margin. It still needs to be ratified by the House of Representatives.

Tax cuts have been a point of contention between Obama -- who has been looking to increase the tax rate on capital gains while supporting tax breaks for the middle-class and small businesses -- and Republicans, who say ending tax breaks for the wealthy would hamper the country's economic recovery.

As for those who disapproved of the plan, Democrats appeared to be the more dissatisfied. According to the survey, which polled 1,000 adults earlier this month, over twice as many people said Obama sacrificed too much of his position than those who said the Republican party gave up too much.

Three other major surveys, meanwhile, are also showing strong support for the tax-cut package.