US Senate approves two-month extension of payroll tax cut

By REUTERS
December 23, 2011 16:45

The US Senate on Friday approved a two-month extension of a payroll tax cut that otherwise is set to expire on Dec. 31, clearing the way for a vote in the House of Representatives that could occur shortly.

If the economy-boosting measure passes the House, as expected, it would clear the way for congressional negotiations on follow-up legislation to extend the tax cut through 2012 for 160 million American workers.


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