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Parties Near Deal on Payroll Tax Cut Extension

Tom Williams/CQ Roll Call File Photo
Rep. Tom Price said today that he thought any deal to extend the payroll tax holiday without paying for it would lose significant Republican support — even, potentially, his.

But the larger deal is not yet done. Camp and Baucus were still wrestling with whether to include expiring tax extender provisions in the conference report. They were also still working out the details on the structure of the offsets for about $60 billion in unemployment and Medicare doc fix provisions. A source familiar with the talks said the most recent version included offsets such as spectrum auctions and savings from reforming federal workers’ pensions. Another source indicated that renewable tax credit extenders would be part of the deal. Reid noted today that he hoped “some of the extenders we’re concerned about” would be included.

Major progress in the talks began in earnest at the end of last week and continued through the weekend. Sources said they believe Wednesday will be crucial in determining whether either chamber will vote on the conference report — which can’t be amended — or if they will move on separate legislation that would have to start in the House.

Editor's Note:

This article updates the print version to include reactions from House Majority Leader Eric Cantor.

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