The Big Story Blog

Obama signs payroll tax cut extension

Posted at 1:16 PM on December 23, 2011 by Paul Tosto
Filed under: Economy, Jobs and unemployment, Taxes


From CNN:

President Barack Obama signed a two-month extension of the payroll tax cut Friday, ending what had been a heated political stalemate and sealing a hard-fought win for Democrats on an issue -- taxes -- that has historically favored the GOP.

Earlier in the day, the measure cleared the Democratic-controlled Senate and the Republican-controlled House of Representatives by unanimous consent, a procedural move allowing the measure to pass even though most members of Congress were already home home for the holidays.

"This is some good news just in the nick of time," Obama said shortly before departing the White House for Hawaii. But "we have a lot more work to do. This continues to be a make-or-break moment for the middle class in this country."


About Paul Tosto

Paul Tosto

Paul Tosto writes the Big Story Blog for MPR News. He joined the newsroom in 2008 after more than 20 years reporting on education, politics and the economy for news wires and newspapers across the country.