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House, Senate pass tax holiday extension

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    Reaction to deal on Capitol Hill

  • Duration 2:06
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Congressional lawmakers inside the capitol showed just how quickly they can get things done.

With the proper motivation to congressional correspondent Mike Emanuel -- line.

News.

After the house and senate pass the comprehensive 155.

Billion dollar payroll tax holiday extension.

Lawmakers headed out for their presidents day holiday recess before leaving the top Republican negotiator.

-- the bipartisan deal this agreement shows the American people that congress can govern.

In Washington can work the conference -- adopted.

The house passed the measure to 93 to 132.

Before the senate voted the majority leader made this final pitch.

Americans are waiting and watching what happens here today.

With our economy gaining steam still fragile it's crucial we can -- a tax increase and 116.

Million Americans.

It was quickly approve sixty to 36 some who voted no were unhappy the roughly 95 billion dollar payroll extension.

Was not offset with spending cuts.

Others like Indiana Republican senator Dan Coats oppose cutting attacks designed to fund Social Security.

It is a shell game.

And it has gonna have to be repaid the measure insurers Medicare doctors won't see a sharp cut in their reimbursement rates it allows those out of work for six months to continue receiving benefits.

Although begins to scale back maximum benefits.

The nonpartisan Congressional Budget Office says the jobless rate has been above 8% for three years -- predicts quote.

The unemployment rate will remain above 8% until 2014.

And this ominous note quote.

The extent of long term unemployment is much greater than would be expected on the basis of its historical relationship with the overall unemployment rate.

Long term suggests those -- been looking for work for more than six months -- -- 40%.

In December 2009.

For the first time since they started keeping track back in 1948.

Miners -- there ever since that's about double the normal level.

President Obama's expected to sign this bill into -- soon and called its passage an important step.

-- a lot on the hill Mike thank you.

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