Just across from National Journal. Our dumb national nightmare is over.
House Republicans on Thursday crumpled under the weight of White House and public pressure and have agreed to pass a two-month extension of the 2 percent payroll-tax cut, Republican and Democratic sources told National Journal…
The House will pass the two-month extension with a technical correction to the language designed to minimize difficulties businesses might experience implementing the short-term, two-month tax cut extension.
In exchange, Reid agreed to appoint several Senate Democrats to start negotiating with the House on a full-year payroll-tax holiday extension, which is right in line with McConnell’s blueprint from this morning. Updates are coming but let’s get this up since news is breaking. Two questions to mull while we wait. One: Does the “technical correction” mentioned by National Journal mean the Senate will have to return and pass the House’s version of the bill? I thought the House was under pressure to pass the Senate bill precisely because the upper chamber wasn’t going to reconvene before New Year’s. Two: If you’re going to cave, why not take Rove’s advice and wait another week, when people will be even more distracted by the holidays? Particularly strange is that this is breaking within just a few hours of The One holding a presser to demand action with middle-class taxpayers lovingly arrayed behind him. Now it looks like even more of a capitulation than it is. Merry Christmas from the GOP, champ. Exit quotation from Philip Klein: “So instead of story being ‘Obama caves on Keystone’ it’ll be ‘GOP caves on middle class tax cut’ Great work!”
