House Representative Speaker John Boehner announced Thursday that the House Republican Leaders have agreed to accept the payroll tax extension, meaning that taxes will not increase for working families on January 1.
The two-month extension involves a compromise which requires the Senate to appoint members to a conference committee. The committee is set to negotiate a longer-term solution during this time.
According to ABC News, the “What 40 Dollars a Paycheck Means to American Families” campaign gathered the support of over 30,000 people in an effort to pass the extension.
House Republicans had originally sought a year-long extension, but settled today on the two-month agreement.
President Obama has stated that this is not a partisan issue, but one that “an overwhelming number of people in both parties agree” on.
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