Bargainers prepare 2-month payroll tax cut

WASHINGTON — Senate Majority Leader Harry Reid says congressional bargainers are preparing a two-month extension of the payroll tax cut and expiring jobless benefits as a fallback plan in case negotiations on a yearlong package don't succeed.

AP Photo/Manuel Balce Ceneta

Senate Majority Leader Harry Reid of Nev., left, accompanied by Senate Majority Whip Richard Durbin of Illinois show the front page story of the Washington Post during a news conference on Capitol Hill in Washington, Wednesday to discuss the payroll tax cut compromise under consideration in the Senate.

Lawmakers...