Cut

Obama welcomes tax cut deal

Reuters News
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Posted: Dec 19, 2011 4:49 AM
Obama welcomes tax cut deal

WASHINGTON (Reuters) - President Barack Obama on Saturday welcomed a deal worked out by divided lawmakers to extend a payroll tax cut for U.S. workers by two months and to continue emergency jobless aid.

In brief remarks at the White House, Obama also urged Congress to move quickly when it returns from its winter recess to extend the tax cut for a full year, saying it would "inexcusable" to allow the reduction to lapse.

(Reporting By Caren Bohan, Laura MacInnis and Dave Clarke)