WASHINGTON (AP) — Aides to participants in House-Senate talks on renewing President Barack Obama's signature payroll tax cut say negotiators have made significant progress and that an agreement could come as early as Tuesday.
A Democratic aide said there are just a couple of "lingering issues" and that negotiators are "getting closer and closer." The aide required anonymity to assess the private negotiations.
The negotiations have intensified after House GOP leaders dropped a demand that the $100 billion or so cost of renewing the 2 percentage point cut in the Social Security payroll tax be defrayed with spending cuts elsewhere in the budget.
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But negotiators still need to find savings to pay for the $30 billion cost of renewing jobless benefits and $20 billion price for fixing a Medicare payment formula for doctors.
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