Tentative Deal On Payroll Tax Cut And Jobless Benefits

The payroll tax cut for more than 160 million workers and unemployment benefits are parts of a new possible deal following the White House budget release.

The tentative agreement, mainly negotiated by Democratic Senator Max Baucus and Republican Representative Dave Camp, is expected to be formally signed on Wednesday by the bipartisan negotiating panel they head. That would clear the way for a House of Representatives vote possibly by week’s end.

The agreement contains a complicated formula for long-term jobless benefits that would allow both Democrats and Republicans to declare victory. The maximum number of weeks to collect unemployment benefits, currently at 99, would gradually fall to 73 by year’s end, according to congressional aides.

By: Alan

Alan Colmes is the publisher of Liberaland.