House Speaker John Boehner says he and Senate Majority Leader Harry Reid agreed to a two-month extension of a payroll tax cut that was due to expire at the end of the year.
The terms were previously included in a bipartisan Senate deal and demanded by President Barack Obama. The deal comes hours after Senate Minority Leader Mitch McConnell, R-Kentucky, called for a short-term extension, increasing pressure on House GOP leaders.
The agreement also includes language to ease the administrative burden on small businesses implementing the plan.
"The Senate will join the House in immediately appointing conferees, with instructions to reach agreement in the weeks ahead on a full-year payroll tax extension," Boehner said in a statement. "We will ask the House and Senate to approve this agreement by unanimous consent before Christmas."
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