Senate Minority Leader Mitch McConnell on Thursday called on the Republican-controlled House to pass an extension of the payroll tax cut before it expires at the end of the year, but he also said the Senate should meet with the House to work out their differences.
"House Republicans sensibly want greater certainty about the duration of these provisions, while Senate Democrats want more time to negotiate the terms. These goals are not mutually exclusive, McConnell, R-Kentucky, said in a statement -- his first on the standoff. We can and should do both. Working Americans have suffered enough from the Presidents failed economic policies and shouldnt face the uncertainty of a New Years Day tax hike."
The Senate passed the two-month extension on Saturday, but the House passed on voting on the measure and instead called on the Senate to return from its holiday break to work out its differences on a one-year extension.
The tax cut e xtension means about $1,000 to the average taxpayer. It affects about 160 million Americans. President Obama is scheduled to speak on the issue at 12:15 p.m. ET.
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