Congress passes payroll tax cut extension
The House passed a bill this morning that extends the payroll tax cut for 160 million workers through December and continues long-term unemployment benefits, Reuters reported.
The legislation will add $100 billion to the U.S. deficit and is aimed at further stimulating the economy. After being approved by a vote of 293-132, it headed to the Senate, where it was approved by a simple majority.
It now makes it way to President Barack Obama.
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