Senators Manchin And Toomey Announce Gun Compromise

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New Situation At The Fiscal Cliff

GOP Congress Gives-In To Obama On Payroll Tax

Republican congressional leaders dropped their opposition to renewing the existing payroll tax cut. President Obama says the tax cut is a key element of his economic recovery plan. The GOP had previously insisted the tax cut should be offset by spending cuts, putting them in the awkward position of being against tax cuts that help business.