Democrats are abandoning their demand for a surtax on millionaires to help finance payroll tax cuts in a sign that lawmakers are trying to broker a compromise on Congress' highest-profile year-end dispute.
Even so, there is no clear path to quick bipartisan agreement on the legislation, which would prevent an automatic Social Security tax increase on 160 million workers and the expiration of jobless benefits for people out of work the longest. Both would occur Jan. 1 without congressional action.
Lawmakers are also embroiled in a squabble over a huge, separate spending bill, a dispute that would force a shutdown of most of the government on Saturday unless it is resolved. Neither party wants to risk the wrath of voters by shuttering government doors.
Republicans say they plan to try winning House approval for a $1 trillion measure financing dozens of agencies through next September.
http://www.cbsnews.com/8301-501707_162-57343347/democrats-abandoning-millionaire-surtax-proposal/
Even so, there is no clear path to quick bipartisan agreement on the legislation, which would prevent an automatic Social Security tax increase on 160 million workers and the expiration of jobless benefits for people out of work the longest. Both would occur Jan. 1 without congressional action.
Lawmakers are also embroiled in a squabble over a huge, separate spending bill, a dispute that would force a shutdown of most of the government on Saturday unless it is resolved. Neither party wants to risk the wrath of voters by shuttering government doors.
Republicans say they plan to try winning House approval for a $1 trillion measure financing dozens of agencies through next September.
http://www.cbsnews.com/8301-501707_162-57343347/democrats-abandoning-millionaire-surtax-proposal/