WASHINGTON (AP) -- House Speaker John Boehner says he has reached agreement with the Senate to renew the payroll tax cut before it expires Dec. 31.
The Ohio Republican said in a statement Thursday that he expects
to pass a new bill by Christmas that would renew the tax break for two months while congressional negotiators work out a longer-term measure that would also extend jobless benefits for millions of Americans and prevent doctors from absorbing a big cut in Medicare payments.
The GOP retreat ends a tense standoff in which Boehner's House Republicans came under intense pressure to agree to the short-term extension.
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