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Friday, December 16, 2011

Report: Deal reached on two month extension of Payroll Tax Cut

by Calculated Risk on 12/16/2011 09:35:00 PM

From the NY Times: Senate Leaders Agree on 2-Month Extension of Payroll Tax Cut

Senate leaders said on Friday night that they had reached a deal that would extend a payroll tax cut for two months ... The agreement would also speed the decision process for the construction of an oil pipeline from Canada to the Gulf Coast ...

The Senate agreement would also allow jobless workers to continue receiving unemployment insurance benefits as permitted by current law for two months. For the same period, there would be no cut or increase in fees paid to doctors for treating Medicare patients.
I expect these provisions - the payroll tax cut and the extension of the emergency unemployment insurance benefits - to eventually be extended for all of 2012.

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