Politics & Government

December 23, 2011 10:26 AM

Congress approves payroll tax cut, Obama signs it into law

Congress on Friday quickly and quietly approved a two-month extension of the Social Security payroll tax cut, ending a week of rancor and assuring that more than 160 million people will avoid a 2 percentage point payroll tax increase next year. But the calm, collegial legislative day was deceptive. When lawmakers return in January, they’ll remain far apart on agreeing to a longer-term deal.

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