Payroll tax panel agrees on renewal
ple making a $100,000 salary would get a $2,000 tax cut.
The deal would not only WASHINGTON — be a win for Obama but House -Senate talks on rewould take the payroll tax newing a payroll tax cut that fight — which put Republidelivers about $20 a week to cans on the defensive — off the average worker yielded a the table for the fall election tentative agreement Tuescampaign. day, with lawmakers hopeful “The mood is to get it off of unveiling the pact today the table,” freshman Rep. and sending the measure to Dennis Ross, R-fla., said. President Barack Obama as “We’ve got to move on to anearly as this week. other issue.”
Under the outlines of the The agreement also would emerging agreement, a 2 avert a huge cut in Medicare percentage -point cut in the payments to doctors, fiSocial Security payroll tax nanced by cuts elsewhere in would be extended through the federal health care budthe end of the year, with the get, GOP and Democratic nearly $100 billion cost aides said. added to the deficit. The pact received a mixed
Jobless benefits for the but generally positive receplong-term unemployed tion from rank and file House would be renewed as well, Republicans, who discussed with the $30 billion or so the matter Tuesday evening. cost paid for in part through Aides in both parties said auctioning broadcast specSenate Democrats were trum to wireless companies largely rebuffed in an effort and requiring federal workto renew a package of exers to contribute more topired tax breaks for individward their pensions. uals and businesses, includ
Rep. Mike Simpson, R-idaing clean energy tax credits ho, said it was described to cherished by Democrats. A lawmakers as a tentative tax break sought by busiagreement. nesses that purchase new
The payroll tax cut and reequipment was dropped as newing jobless benefits were well. key planks in Obama’s jobs A GOP aide said negotiaprogram, which was antors were finalizing an agreenounced in September. The ment on reducing the numpayroll tax cut benefits 160 ber of weeks jobless workers million Americans and delivwould be eligible to receive ers a tax cut of about $20 a unemployment benefits to a week for a typical worker maximum of 63 weeks in making $50,000 a year. Peo- most states.