WASHINGTON (Reuters) – Congressional negotiators agreed on Wednesday to a bipartisan deal to extend a payroll tax cut, which would give a victory to Democrats and allow Republicans to get out from under an issue that threatened to hurt them in the November elections. Senator Max Baucus, a Democrat, told Reuters enough negotiators from both parties had signed off on the accord to clear it for a vote by the full Senate and House of Representatives. The two chambers are expected to vote on the deal before lawmakers depart Friday for a week-long recess. …

Quoted from Congress reaches payroll tax-cut deal on Yahoo! News – Latest News & Headlines

A US congressional panel has reached a deal on extending a payroll tax cut, ending weeks of uncertainty. The $150bn (£95.69bn) deal extends the tax cut until the end of 2012. The extension of the payroll tax cut, which would prevent approximately 160 million Americans from seeing a tax increase in 2012, had already been passed by the Senate last weekend. A House-Senate conference committee negotiated a compromise on a tax cut extension. Congress Breaks Gridlock, Reaches Payroll Two prominent tax writers from both sides of the aisle announced a deal to extend a tax cut for 160 million Americans. Tags: congress, breaks, gridlock, reaches, A tax cut for 160 million Americans, set to expire at the end of this month, would be extended through December under a bipartisan deal announced early on Thursday by U.S. ional Tentative Deal on Tax Cut Extension Thursday, February 16, 2012 Print Email U.S. lawmakers reached a tentative deal on Tuesday on legislation aimed at boosting the economy by extending a tax Rep. Dennis Ross, one of 87 House Republican freshmen, said that Republicans are looking to put the tax credit in the past.

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