U.S. President Barack Obama (C) and Vice President Joe Biden (L Front) attend an event about the payroll tax cut and unemployment insurance at the White House in Washington D.C., capital of the United States, Feb. 21, 2012. Obama on Tuesday welcomed an agreement by Congress to extend payroll tax cut and unemployment insurance, calling for continued bipartisanship to help the economy. (Xinhua/Zhang Jun)
by Xinhua writer Jiang Xufeng
WASHINGTON, Feb. 21 (Xinhua) -- The Obama administration on Tuesday claimed a long-awaited political victory of extending payroll tax cut and jobless benefits for the long-term unemployed, and urged Congress to take more steps in line with the government to boost exports and rebuild America.
FULL-YEAR DEAL
Both parties showed rare bipartisanship last week, and the GOP- led House of Representatives on Friday voted to pass the extension of the payroll tax cut and jobless benefits for the long-term unemployed for the rest of this year on an overwhelming vote of 293 to 132.
The Senate on Friday followed shortly afterward with a vote 60 to 36 vote.
"This tax cut makes a difference for a lot of families," Obama said at a Tuesday White House event marking the passage of the tax cuts. He was expected to sign the bill into law in coming days.
The agreement represents a victory for Obama and his fellow Democrats, who have argued that payroll tax cut for Americans could provide a boost to the nascent economic recovery. Republican lawmakers also have reason to welcome the deal, as it gets a politically troubling issue off the table.
The bill could avoid a payroll tax hike for Americans on March 1, renewing unemployment benefits for the long-term unemployed as well as averting a steep cut in Medicare doctors' fees.
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