Source: Possible Deal On Payroll Tax

Source: Possible Deal On Payroll Tax

Washington (CNN) — House Republicans will hold a conference call at 5 p.m. Thursday amid indications of a possible deal to extend the payroll tax cut before it expires on January 1, a top Republican source has told CNN.

The development comes hours after Senate Minority Leader Mitch McConnell, R-Kentucky, called for a short-term extension of the tax holiday as part of a compromise, increasing pressure on House GOP leaders to end their resistance to such a step.

House Speaker John Boehner, R-Ohio, initially rejected Senate Minority Leader Mitch McConnell’s call, releasing a statement that reiterated his call for negotiators to craft an immediate one-year tax cut extension — something now considered unlikely by most congressional observers.

With nine days until the payroll tax cut is set to expire, bringing a tax increase averaging $1,000 for American workers, the ongoing impasse pitting the House Republican leadership against the White House, congressional Democrats and fellow Republicans is the kind of political gamesmanship that Americans dislike about Congress, President Barack Obama said Thursday.”

With MANY THANKS To Both Alan Silverleib And Tom Cohen Of CNN. Read More Here And View The Video:“Source: Possible Deal On payroll Tax”

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