Obama signs 2-month payroll tax cut extension
Jul 21, 2015 at 11:17 AM
Obama acted Friday after the House and Senate approved the tax cut extension, which will maintain the Social Security tax at 4.2 percent. The legislation also extends unemployment insurance for jobless workers and forces Obama to make a decision within 60 days on whether to permit construction of an oil pipeline opposed by environmental groups.
By signing the bill, Obama capped nearly a week-long standoff with House Republicans who demanded a full-year extension. Under a deal reached Thursday, House and Senate leaders named negotiators to begin working on a longer-term bill.