Payroll Tax Cut Vote Today

, Posted: Fri, February 17 2012 at 8:44 AM, Updated: Fri, February 17 2012 at 8:50 AM

Members of Congress are expected to vot on the payroll tax cut extension deal Friday.

The deal, which was reached early Thursday morning, will extend the 2 percent cut in payroll taxes through 2012.  This will keep the existing rate at 4.2 percent.

The compromise will also extend unemployment benefits as well as halt a reimbursement cut for doctors who treat Medicare patients.

President Obama said he would sign the deal immediately.

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