House Republicans have reversed course and agreed to pass the payroll tax cut extension for two more months, reports National Journal, citing "Republican and Democratic sources." It comes after first Senate Minority Leader Mitch McConnell and then President Obama reiterated today that the House ought to pass the temporary compromise before starting to negotiate on a full-year extension of the 2 percent cut, which is currently set to expire January 1. House Speaker John Boehner originally rejected McConnell's request, saying he'd prefer to work out a deal on the full-year extension now. (Most of the Senate went home, you'll recall, foolishly assuming the House would just pass the bill they'd sent them.) CNN reports the House Republicans will hold a conference today at 5 p.m., and we should hear more about the compromise then.
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