House leaders praise emerging payroll tax cut deal

WASHINGTON (AP) — Congressional leaders of both parties praised an emerging deal today to extend a payroll tax cut and extra jobless benefits through 2012, but cautioned that bargainers still had to nail down final details.

The rare, bipartisan consensus reflected a desire by both parties to put the long-running drama over the issue to rest and a shared sense that their tentative agreement was probably the best deal they could get. The pact came together after House Republicans conceded that the roughly $100 billion payroll tax cut would not have to be paid for with spending cuts.

"I do expect, if the agreement comes together like I expect it will, the House should vote this week," House Speaker John Boehner, R-Ohio, told reporters.

House Minority Leader Nancy Pelosi, D-Calif., said Democrats were pleased that the package will extend the payroll tax cut and extra jobless benefits and block a 27 percent cut in doctors' Medicare reimbursements. Without action, the tax cut, added unemployment benefits and current rate of Medicare benefits would otherwise expire March 1.