Congress voted Feb. 17 to extend the payroll tax cut and jobless benefits for the long-term unemployed through the end of 2012.
The bill”™s passage lacked the fanfare and much of the harsh rhetoric that accompanied Congressional debates over a similar extension of the payroll tax cut last December, when both parties ultimately compromised on a 60-day extension just prior to Christmas.
This time around, the extension passed with relative ease: the House voted 293-132 in favor of the $143 billion relief package, while the Senate approved it 60-36.
The bill maintains a two percentage-point payroll tax cut for 160 million working Americans, and extends benefits for the long-term unemployed while shortening the maximum length of those benefits to 73 weeks from 99 weeks. Additionally, the bill prevents cuts in Medicare reimbursements to physicians.
The agreement came after Republicans dropped their demand that financing measures be built into any payroll tax cut extension.
Rep. Nan Hayworth (R-NY), who was appointed by House Speaker John Boehner (R-OH) to serve on the Payroll Tax Conference Committee in December, said she has consistently supported a yearlong extension of the relief measures.
“Our agreement here today is a result of Republicans and Democrats coming together to serve our constituents and the American people,” she said in a statement.
