WASHINGTON — House-Senate talks on renewing a payroll tax cut that delivers about $20 a week to the average worker yielded a tentative agreement Tuesday, with lawmakers hopeful of unveiling the pact Wednesday and sending the measure to President Barack Obama as early as this week.
|The American Wind Energy Ass.|
loses it's latest attempt to suck
American Tax Payers dry.
Under the outlines of the emerging agreement, a 2 percentage-point cut in the Social Security payroll tax would be extended through the end of the year, with the nearly $100 billion cost added to the deficit. Jobless benefits for the long-term unemployed would be renewed as well, with the $30 billion or so cost paid for in part through auctioning broadcast spectrum to wireless companies and requiring federal workers to contribute more toward their pensions.
Rep. Mike Simpson, R-Idaho, said it was described to lawmakers as a tentative agreement.
Aides in both parties said Senate Democrats were largely rebuffed in an effort to renew a package of expired tax breaks for individuals and businesses, including clean energy tax credits cherished by Democrats. A tax break sought by businesses that purchase new equipment was dropped as well.