The House Oversight and Government Reform Committee is expected to forge ahead Wednesday morning with its meeting on the contempt resolution anyway.
If the vote proceeds, Republicans have more than enough votes on committee to pass the resolution. However, Holder would not be considered held in contempt of Congress unless and until the full House approves the measure.
The move by Holder and Obama to lock down some requested documents only complicates the fight over the botched anti-gunrunning operation between the legislative and executive branches.
After Holder made the request to Obama via letter on Tuesday, Deputy Attorney General James Cole wrote to Rep. Darrell Issa, R-Calif., on Wednesday informing him that the president has granted the request.
"We regret that we have arrived at this point, after the many steps we have taken to address the committee's concerns and to accommodate the committee's legitimate oversight interests regarding Operation Fast and Furious," Cole wrote. "Although we are deeply disappointed that the committee appears intent on proceeding with a contempt vote, the department remains willing to work with the committee to reach a mutually satisfactory resolution of the outstanding issues."
Obama's decision pertains to documents from February 2011 and afterward examining how Justice officials learned about the Fast and Furious probe.
Holder, in his letter to Obama, said those documents pertain to the "deliberative process" on how to respond to congressional and media inquiries.
Wednesday's developments follow a flurry of activity Tuesday, as Holder tried to negotiate a way to avert the contempt proceedings. Issa had earlier indicated a willingness to postpone the vote after Holder indicated a willingness to make compromises and supply some documents in response to House Republicans' subpoena.
But Issa told reporters after a roughly 20-minute meeting with Holder Tuesday that the attorney general instead briefed them on the documents in lieu of delivering them.
Issa told Fox News that Holder didn't provide "anything in writing," and said the family of murdered Border Patrol agent Brian Terry wants the documents as much as he does.
"We want the documents. Brian Terry's family would like the documents that are responsive to how in fact their son was gunned down with weapons that came from lawful dealers but at the ... behest of the Justice Department," Issa told Fox News.
Weapons from the Fast and Furious anti-gunrunning operation were found at Terry's murder scene.
Issa suggested earlier Tuesday that the vote could still be up in the air.
"The deadline will always move to the last minute," said Issa, chairman of the House Committee on Oversight and Government Reform. "We're not looking to hold people responsible. We're looking for document production."
The failed Fast and Furious operation attempted selling thousands of guns to arms dealers along the U.S.-Mexico border to trace them to leaders of drug cartels. However, many of them showed up in crime scenes.
Congressional investigators have been trying to determine if and when high-level Justice officials knew about problems with the operation.
Holder said Issa rejected what he thought was "an extraordinary offer."
"We offered the documents that we thought would resolve the subpoenas," he said. "The ball is in their court."
The contempt vote in the oversight committee will likely pass considering Republicans outnumber Democrats 22 to 16.
GOP House leadership has given Issa the green light to proceed how he sees fit, sources told Fox News, which suggests the vote would reach the House floor.
Holder called for the Capitol Hill meeting late Monday in a possible attempt to make a deal with Issa and avoid the contempt vote.
Maryland Rep. Elijah Cummings, the top Democrat on the House oversight panel, said he after the meeting he is confident that Justice officials are not attempting a cover-up by withholding documents.
Holder's letter stated the Justice Department "has offered a serious, good faith proposal to bring this matter to an amicable resolution in the form of a briefing based on documents that the committee could retain."
Issa had demanded to see a trove of documents on the controversial Bureau of Alcohol, Tobacco, Firearms and Explosives operation. He also wants to know who prepared a now-retracted letter from Feb. 4, 2011, in which the department claimed the U.S. did not knowingly help smuggle guns to Mexico, including those found where Terry was killed.
Issa wrote back to Holder later Monday requesting he deliver roughly 1,300 documents pertaining to the Feb. 4 letter.
The letter also stated Holder needed to deliver a description of all the documents he will not produce. Issa said the log is "essential for the committee to determine whether the department has substantially met its obligations" -- a statement he repeated Tuesday after the meeting.
Fox News' William LaJeunesse and Chad Pergram contributed to this report.
Okay, so let me get this straight. Congress votes to find the White House appointed head of DOJ in contempt, but before the contempt vote carries any weight, the White House (read same folks that put holder in charge) must approve/accept the contempt vote? What kind of crap is that? Whatever happened to check's and balances?