Boehner: House leaders accept Senate tax terms

WASHINGTON - December 22, 2011 (WPVI) -- House Speaker John Boehner says he has reached agreement with the Senate to renew the payroll tax cut before it expires Dec. 31.

The Ohio Republican said in a statement Thursday that he expects to pass a new bill by Christmas that would renew the tax break for two months while congressional negotiators work out a longer-term measure.

That measure would also extend jobless benefits for millions of Americans and prevent doctors from absorbing a big cut in Medicare payments.

The GOP retreat ends a tense standoff in which Boehner's House Republicans came under intense pressure to agree to the short-term extension.

After Boehner's statement, President Obama congratulated GOP lawmakers for ending the 'partisan stalemate,' and extending payroll tax cuts.

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