Congress extends payroll tax cut

Feb 17th, 2012

us-congress

Friday, Congress passed legislation, extending a tax cut for 160 million workers through December and continuing long-term jobless benefits, handing President Barack Obama a major victory in this election year.

The House of Representatives passed the measure 293-132, in two quick bipartisan votes, as the Senate passed it 60-36.

The legislation goes to Obama, who is expected to sign it into law.

Large numbers of Republicans in both chambers voted against the bill, laying divisions within the party over an issue that they have struggled with for months, threatening to hurt their 2012 electoral prospects.

The measure, while adding $100 billion to the already high U.S. deficit, is designed to further stimulate the economy at a timeit is showing positive signs.

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