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December 22, 2011

House Republicans Cave on Payroll Tax Cut

"Bowing under intense pressure from members of their own party to end the politically damaging impasse over a payroll tax holiday, House Republican leaders agreed Thursday to accept a temporary extension of the tax cut, beating a hasty retreat from a showdown that Republicans increasingly saw as a threat to their election opportunities next year," the New York Times reports.

"Under a deal reached between House and Senate leaders -- which Speaker John A. Boehner was presenting to the rank and file in an evening conference call -- House members would accept the two-month extension of a payroll tax holiday and unemployment benefits approved by the Senate last Saturday, while the Senate would appoint members of a House-Senate conference committee to negotiate legislation to extend both benefits through 2012."

Washington Post: "If the rest of the House agrees, Obama could see the bill on his desk very soon. Under one scenario suggested by Congressional aides, the House would accept the deal in a voice vote, requiring only a handful of members to return to Washington."


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