Congressional negotiators have reached a deal over extending the payroll tax cut for two months, before the tax break expires Dec. 31. House Republicans learned terms of the agreement in a late-day conference call yesterday. The House is set to vote on the deal today.
Boehner said in a statement that he and Democratic Senate Majority Leader Harry Reid agreed to change legislative language to protect small businesses from new reporting requirements included in the plan. The short-term deal allows for negotiations in the coming weeks on a year-long extension to be discussed by conferees from both the House and Senate.
“Today, I congratulate members of Congress for ending the partisan stalemate,” said President Barack Obama in a statement. “Because of this agreement, every working American will keep his or her tax cut – about $1,000 for the average family.” Unemployment insurance will also continue, under terms of the deal. “When Congress returns, I urge them to keep working to reach an agreement that will extend this tax cut and unemployment insurance for all of 2012 without drama or delay,” added Obama.
Are you relieved about a short-term extension allowing for more negotiations? What are your thoughts on the partisan nature of this debate? How would raised taxes affect you?
Congressman John Campbell, (R-CA) 48th Congressional District in Orange County, which includes Aliso Viejo, Dana Point, Irvine, Laguna Beach, Laguna Hills, Laguna Niguel
Congressman Brad Sherman, (D-CA) 27th Congressional District contains the west San Fernando Valley cities of Sherman Oaks, Reseda, Northridge, and Porter Ranch
Mark Barabak, national political reporter for the Los Angeles Times