U.S. Senate Leaves Town for Christmas

U.S. Senate Leaves Town for Christmas

Republicans in the House of Representatives have continued to express the benefits provided to the economy if the tax break for 160 million employees, which expires on December 31st, is renewed for one year.  Working towards a compromise will be difficult as Democratic Senate leader Harry Reid claimed he was unwilling to reopen negotiations.

According to Reuters, most senators have left Washington for the holidays, not expected to resume legislative business until January 23rd.  At this time, Senator Reid will be forced to decide upon engaging in new negotiations.  If not, negative impacts could be placed upon the already struggling economy, most of which will be felt in the latter part of 2012.

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