Senate approves two-month extension of payroll tax cut (Reuters)

(Reuters) ? The Senate on Friday approved a two-month extension of a payroll tax cut that otherwise is set to expire on December 31, clearing the way for a vote in the House of Representatives that could occur shortly.

If the economy-boosting measure passes the House, as expected, it would clear the way for congressional negotiations on follow-up legislation to extend the tax cut through 2012 for 160 million American workers.

(Reporting By Richard Cowan and Rachelle Younglai; Editing by Eric Beech)

Source: http://us.rd.yahoo.com/dailynews/rss/obama/*http%3A//news.yahoo.com/s/nm/20111223/ts_nm/us_usa_taxes

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