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McConnell: Extend Tax Cut Short-Term And Long-Term

Senate Republican Leader Mitch McConnell says the House and Senate should meet in Washington to extend the payroll tax set to expire Dec. 31.

With the clock ticking, McConnell says the House should pass a short-term extension that gives 160 million Americans certainty that their taxes will not rise Jan. 1. The Kentucky Republican also called on Senate Majority Leader Harry Reid to convene negotiators on the longer-term extension that House Republicans are demanding.

Thirty-nine of McConnell's Senate Republicans helped the Senate pass a two-month extension last week. Boehner's Republicans, who want a yearlong extension, were outraged and have refused to go along.

McConnell's proposal comes after House GOP negotiator Dave Camp suggested a three-month extension.

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