House Rejects 2-Month Extension of Payroll Tax Cut

The Republican-controlled House on Tuesday rejected a Senate-approved two-month extension of a payroll tax cut and unemployment benefits to millions of Americans, raising the likelihood that both will expire on Dec. 31.The House effectively adjourned for the year following the vote, and with the Senate out of town for the holiday, there is no resolution in sight on a legislative battle waged by House Republicans over the length of the benefits' extension. Both chambers can return to Washington at the call of party leaders if there is an agreement.
Read More

Posted: Wed, 12/21/2011 - 11:36am