Obama issue statement on job in washington

Obama issue statement on jobs in washington ; The Senate late Thursday blocked rival Democratic and Republican plans for extending the current payroll tax cut, even as all sides on Capitol Hill continue to promise an eventual compromise on a tax holiday before Congress leaves Washington for Christmas.

The Democratic bill extending the tax cut for an additional year -- to have been funded by a surtax on those earning more than $1 million a year -- won a 51-49 majority, short of the 60 votes needed for passage.

More than two dozen of the Senate's 47 Republicans also voted to kill an alternative plan backed by GOP leader Mitch McConnell of Kentucky in a vote that exposed a wide split among the party over whether renewing an existing 2 percentage point payroll tax cut makes sense. Read more For the latest updates PRESS CTR + D or visit Stock Market news Today

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