Congress Passes Payroll-Tax Cut

Just in time for the weekend, Congress can finally take a load off. The payroll-tax-cut extension was approved by the House and Senate on Friday, sending the $150 billion measure to President Obama, who is planning to sign off on it today. In addition to cutting taxes for workers, the agreement will extend unemployment benefits and avoid a cut in doctors’ Medicare reimbursements through the end of the year. Even House Speaker John Boehner is relieved to have washed his hands clean of the debacle. “I support this measure and thank Chairman Camp and our conferees for all their efforts to resolve this issue in a constructive fashion,” he said in a statement after the House passed the bill.