White House: Senate deal meets tax cut test
WASHINGTON (AP) — The White House says a Senate deal to extend a Social Security tax cut and unemployment benefits for two months meets President Barack Obama's goal of avoiding a tax increase in the new year.
White House Communications Director Dan Pfeiffer calls the deal a significant victory.
Obama had wanted a full-year extension of the tax cut. He had also sought a Social Security tax cut for businesses that Congress did not grant. The deal also means Obama will have to decide within 60 days whether to grant a permit for Canada-to-Texas oil pipeline, a decision he had wanted to put off until after next year's elections.
Pfeiffer says that failing to extend the tax cut would have hurt the economic recovery and job growth. (Copyright 2011 by The Associated Press. All Rights Reserved.)