The illustration represents our reaction to Speaker of the House Boehner's decision to accept the Democratic-controlled Senate's payroll tax cut deal.
"In exchange, the Senate will appoint negotiators who will meet with House lawmakers to next hammer out an extension of the tax cut for the rest of 2012.
"The deal still has to clear both chambers, and rank-and-file Republicans already are expressing concern about the terms Boehner outlined. But the agreement was modeled after a solution Senate GOP Leader Mitch McConnell proposed earlier Thursday.
"McConnell's statement, as well as a very public campaign by the White House to lambaste House Republicans for holding up a deal, had put pressure on Boehner to find a way out of the impasse, and fast. Without a deal, the payroll tax rate is set to rise from 4.2 percent to 6.2 percent on Jan. 1, which would mean about $40 less a paycheck for a family making $50,000."
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