WASHINGTON (AP) — In an abrupt about-face, House GOP leaders announced Monday they're willing to extend the two percentage point cut in the payroll tax through the end of the year and add the roughly $100 billion cost to the nation's $15 trillion-plus debt.

House Speaker John Boehner, R-Ohio, Majority Leader Eric Cantor, R-Va., and GOP Whip Kevin McCarthy of California said the House could vote on the payroll tax measure this week, but that the fate of unemployment benefits for millions of the long-term jobless and efforts to forestall a scheduled cuts in fees to doctors who treat Medicare patients would remain in the hands of a House-Senate negotiating panel that's looking for ways to pay for them.

The GOP statement came after intense talks this weekend failed to produce an agreement. Republicans were pressing for pay cuts for federal workers and requiring them to contribute more to their pensions. They recoiled at a Democratic proposal to raise Transportation Security Administration per-ticket airline security fees.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

  • Critical BenefitsPRO information including cutting edge post-reform success strategies, access to educational webcasts and videos, resources from industry leaders, and informative Newsletters.
  • Exclusive discounts on ALM, BenefitsPRO magazine and BenefitsPRO.com events
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.