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House GOP have backup on payroll tax

In an abrupt about-face, House GOP leaders announced Monday they're willing to extend the two percentage point cut in the payroll tax through the end of the year and add the roughly $100 billion cost to the nation's $15 trillion-plus debt.

By Andrew Taylor | Updated on February 13, 2012

WASHINGTON (AP) — In an abrupt about-face, House GOP leaders announced Monday they’re willing to extend the two percentage point cut in the payroll tax through the end of the year and add the roughly $100 billion cost to the nation’s $15 trillion-plus debt.

House Speaker John Boehner, R-Ohio, Majority Leader Eric Cantor, R-Va., and GOP Whip Kevin McCarthy of California said the House could vote on the payroll tax measure this week, but that the fate of unemployment benefits for millions of the long-term jobless and efforts to forestall a scheduled cuts in fees to doctors who treat Medicare patients would remain in the hands of a House-Senate negotiating panel that’s looking for ways to pay for them.

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