UPDATED: Congress Passes Two Month Payroll Cut Extension
Friday, December 23, 2011
House Republicans caved Thursday to a deal that will save the payroll tax cuts for the next two months.
A deal that extends the tax cuts as well as unemployment and Medicare benefits for two months is expected became official Friday.
The Senate voted 89-10 last weekend on a $33 billion package that combined the tax cuts and extended unemployment, but House Republicans suggested they wouldn’t vote in favor of the deal this week.
GET THE LATEST BREAKING NEWS HERE -- SIGN UP FOR GOLOCAL FREE DAILY EBLASTThe last minute agreement is just the latest in a string of 11th hour deals agreed to by Congress this year, pushing the deadline to reach a long-term agreement into the new year.
