The $145 billion payroll tax cut deal is heading toward passage in the U.S. Congress as soon as today with bipartisan support, including from many lawmakers who will be voting for ideas they oppose.
“This is real money that will make a real difference in people's lives,” President Barack Obama said in a statement last night. “I will sign it into law” as soon as Congress passes it.
The agreement would extend the expiring tax cut, unemployment benefits and doctors' Medicare reimbursements through 2012. It contains health-care cuts opposed by Democrats and an increase in the budget deficit disliked by Republicans, and those policies already have prompted many lawmakers to announce their opposition.
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