Congress approves two-month payroll tax credit extension

December 23, 2011 17:22

WASHINGTON- The US Congress Friday completed work on a two-month extension of a payroll tax cut for 160 million American workers that otherwise would have expired on Dec. 31, wrapping up a tumultuous year of battles over spending and taxes.

The legislation now goes to President Barack Obama for signing into law. Also, congressional negotiators now will begin looking for a way to extend the lower payroll tax through 2012, as Obama has requested.

So far, Democrats and Republicans have been unable to agree on how to pay the approximately $200 billion cost of a full-year tax cut extension, along with continuing some unemployment benefits and doctor payments for Medicare healthcare patients.

Related Content

Breaking news
March 23, 2018
Afghan suicide bomber kills at least 10 at wrestling match


Israel Weather
  • 16 - 38
    Beer Sheva
    20 - 36
    Tel Aviv - Yafo
  • 18 - 31
    18 - 32
  • 25 - 35
    20 - 34