GOP Republicans accept defeat

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Bowing under intense pressure from members of their own party to end the politically damaging impasse over a payroll tax holiday, House Republican leaders agreed Thursday to accept a temporary extension of the tax cut, beating a hasty retreat from a showdown that Republicans increasingly saw as a threat to their election opportunities next year.


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http://www.nytimes.com/2011/12/23/u...-leader-suggests-a-payroll-tax-deal.html?_r=1
 
House Republicans — who rejected an almost identical deal on Tuesday on the House floor — caved under the political rubble that accumulated over the week, much of it from members of their own party, who worried the blockade would do serious damage to the party brand heading into an election year.


The new deal makes minor adjustments to make it easier for small businesses with temporary new caps on the wages that are subject to the tax relief.



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http://www.nytimes.com/2011/12/23/u...-leader-suggests-a-payroll-tax-deal.html?_r=1
 
The push to find a resolution was touched off Thursday by Senator Mitch McConnell of Kentucky, the Republican leader, who had negotiated the two-month extension and called on the House to accept a temporary continuation of the tax hike and extended unemployment pay as long as Senate Democrats committed to opening negotiations quickly over a yearlong agreement.


“House Republicans sensibly want greater certainty about the duration of these provisions, while Senate Democrats want more time to negotiate the terms,” Mr. McConnell said in a prepared statement. “We can and should do both. Working Americans have suffered enough"...


Just hours after Mr. McConnell released his statement, House freshmen began to crumble.



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http://www.nytimes.com/2011/12/23/u...-leader-suggests-a-payroll-tax-deal.html?_r=1
 
Sweet I'm about 10 to 20 k short of rolling out of chevron due to how little the IRS will let me draw down penalty free. This 2k puts me that much closer.
 
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