Negotiators Reach Tentative Payroll Tax Cut Pact


Salon Staff
February 15, 2012 5:09AM (UTC)

WASHINGTON (AP) — House and Senate negotiators have reached tentative agreement on renewing a payroll tax cut that delivers about $20 a week to the average worker. They hope to send the legislation to President Barack Obama as early as this week.

Under the outlines of the emerging agreement, a 2 percentage-point cut in the Social Security payroll tax would be extended through the end of the year. Jobless benefits for the long-term unemployed would be renewed as well, and doctors would be saved from a big cut in their Medicare payments.

Advertisement:

The deal would not only be a win for Obama but would take the payroll tax fight — which had Republicans on the defensive — off the table for the fall election campaign.


Salon Staff

MORE FROM Salon Staff

BROWSE SALON.COM
COMPLETELY AD FREE,
FOR THE NEXT HOUR

Read Now, Pay Later - no upfront
registration for 1-Hour Access

Click Here
7-Day Access and Monthly
Subscriptions also available
No tracking or personal data collection
beyond name and email address

•••


Fearless journalism
in your inbox every day

Sign up for our free newsletter

• • •