Congress Reaches a Payroll Tax Deal

“WASHINGTON—Congressional negotiators working on a deal to extend jobless benefits and a payroll-tax cut say they have come to a deal, paving the way for a vote before the policies expire at the end of the month.

“We have reached an agreement,” said Rep. Dave Camp (R, Mich.) shortly after midnight. “We’re confident that this can be concluded.”

Sen. Max Baucus (D, Mont.) said, “It’s clear that we’ll have a majority of conferees sign the conference report.”

A tentative deal outlined earlier this week would extend the tax break, which reduces workers’ payroll taxes to 4.2% from 6.2%, until year-end. …”

Full article