Payroll Tax Cut


Well, that was painful. The House and Senate on Friday finally approved and President Obama signed into law a short-term extension of the payroll tax cut and federal unemployment benefits, and staved off a steep cut in pay to Medicare doctors. But, once again, Congress took a tortured path. And on legislation that, in the scheme of things, was a modest stopgap measure whose main provisions enjoyed bipartisan support. After nearly a week of adamant House Republican opposition, Speaker John Boehner relented Thursday night, announcing that he and Senate Majority Leader Harry Reid had struck a deal on a bill that the Senate passed on Dec. 17. This article is a linkout. Photo Caption: Air Force One lifts off shortly after President Obama signs the Payroll Tax Cut Extension.