Members of a House-Senate committee charged with writing a measure to extend a payroll tax reduction and provide added unemployment benefits reached a tentative agreement Tuesday evening, with Republicans and Democrats claiming a degree of political victory in a fight with significant election-year implications, the New York Times reports.
In a somewhat stunning turn of events, the House Republican leadership has decided to add $100 billion to the US deficit by passing a 10-month extension of a Social Security payroll tax cut without finding offsets to pay for it.