Payroll Tax Cut Agreement Reached
December 23, 2011 – The House and Senate reached an agreement today to extend the payroll tax cut for two months while details are worked out on a one-year extension. The bill includes an extension of unemployment benefits for 99 weeks and expedited review of the Keystone XL pipeline. CNN Money reports that other expiring tax provisions were not included in the bill, but that Congress could pass them in January and make them retroactive to January 1. The bill was approved by the House and Senate and will be presented to the President for signature. Obama has said he will sign the bill.