Senate OKs bill cutting $70 billion in taxes

Sen. Charles Schumer, D-N.Y., the chairman of the Democratic Senatorial Campaign Committee, noted that Republicans decided to drop a provision allowing Americans to deduct up to $4,000 in college-tuition costs worth $4.5 billion.

Instead, Schumer pointed out, Republicans included a tax break for oil companies worth $4.3 billion despite the industry's record profits.

"The choice is stark and clear -- Big Oil or middle-class families," Schumer said. "The Republican Congress chose Big Oil, and that's why voters want change."