House-Senate Deal Reached on Payroll Tax Measure

A top lawmaker says the House and Senate have sealed a final agreement on legislation to renew a 2 percentage-point cut in the payroll tax and jobless benefits for millions of unemployed workers.

Montana Democratic Sen. Max Baucus announced the agreement late Wednesday, capping a long day of wrangling over final details of the measure, which is a top priority of President Barack Obama.

The announcement paves the way for votes in both House and Senate this week.

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