Senate Democrats plan to offer a new proposal on Monday to extend a popular payroll tax cut amid signals that Republican leaders would accept a compromise that covers the cost to the federal Treasury.
Senate Budget Committee Chairman Kent Conrad, a Democrat, said that the offer would be a "serious attempt to move this ball forward," and avoid a December 31 expiration of the popular tax cut.
The proposal will be put forward by Senate Majority Leader Harry Reid, a Democrat, on Monday, Conrad told the "Fox News Sunday" program. He declined to give details.
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