House GOP Agrees to Payroll Tax Cut Extension

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Speaker of the House John Boehner (R-OH) hods a news conference to announce that he and Senate Majority Leader Harry Reid (D-NV) had negotiated deal on the payroll tax cut.
From and

Responding to near-universal condemnation from the White House, The Wall Street Journal op-ed page, and senior members of their own party, the House GOP agreed Thursday to accept a temporary extension of the payroll tax cut and unemployment benefits the Senate approved last Saturday. House Republicans rejected an almost identical proposal on Tuesday. The stunning about face came after members of their own party criticized the House GOP for handing a political victory to President Obama. The deal will keep the payroll tax at 4.2 percent and expands the holiday to small businesses that have temporary caps on wages.

Todd Zwillich, The Takeaway's Washington correspondent, talks about what precipitated the House GOP's capitulation.