Senate Democrats voted to pull their bill, allowing them to take up a version identical to the House bill…”The DREAM Act is not a symbolic vote,” Reid and Assistant Majority Leader Dick Durbin (D-Ill.) said in a statement.

Yesterday we celebrated the historic passage of the DREAM Act in the House of Representatives. Now, advocates are turning up the heat on the Senate — there is a first vote in less than an hour, and advocates should keep calling: 866-996-516.

A cluster of undocumented students cheered South Florida lawmakers, such as Reps. Ileana Ros-Lehtinen and Lincoln Diaz-Balart, when they rose in Congress on Wednesday night to speak in favor of the DREAM Act and loudly booed when opponents spoke against the bill.

A bill to grant legal status to hundreds of thousands of illegal immigrant students passed the House of Representatives late Wednesday, giving President Obama an unexpected although largely symbolic victory in the final days of Democratic control of Congress on an issue he has called a top priority.

It’s on, folks. The DREAM Act is slated to be voted on in both chambers of government today, and we’re expecting a close vote in the House. Yesterday, DREAM backers delivered giant checks (for $2.3 billion) to Congress and continued to ramp up their contact with key Senate votes like Florida’s Sen. George LeMieux and Senator Hutchison of Texas.

Late this evening, House Majority Leader Steny Hoyer announced that the House will take up the American DREAM Act on Wednesday, December 8th. Following is a statement from Frank Sharry, Executive Director of America’s Voice: “The news that the House of Representatives will hold a vote on the DREAM Act on Wednesday is historic. The DREAM Act is supported by educators, the military, small business, organized labor, and religious leaders from across the spectrum. This is the most significant pro-immigrant legislation this chamber will have taken up in a decade. The young people who would benefit from the DREAM Act are patriotic high-achievers who just want a chance to become full citizens of the only country they call home.

This just in — a new Congressional Budget Office (CBO) estimate of the DREAM Act shows that the legislation would increase revenues by $2.3 billion in the 2011-2020 period. After accounting for spending:

CBO and JCT estimate that enacting the bill would reduce deficits by about $1.4 billion over the 2011-2010 period.

More analysis soon, but here is the full CBO report:

Last night, in an effort to garner bipartisan support – and get this thing passed – Senate Majority Leader Harry Reid introduced a new version of the DREAM Act bill. The new version makes compromises in response to the complaints many (mostly Republican) Senators had about the original bill. I’ll be frank: the compromises make me wince. But, from what I’m hearing from those fighting to get this passed, they aren’t deal-breakers. And this is our best shot to get the much-needed Republican votes in order to make the DREAM Act a reality. Here’s a quick summary of the most notable changes:

According to the Senator’s office, Senate Majority Leader Harry Reid now plans to bring the Dream Act up for a vote as a stand-alone measure after Thanksgiving recess.

“I will move the DREAM Act as a standalone bill in the lame duck,” Reid wrote on his Twitter account. “It’s good for the economy & Pentagon says good for natl security.”