Tax Holiday

Millions of Americans get a holiday tax break.
2:19 | 12/17/11

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Transcript for Tax Holiday
Washington is about to deliver -- holiday gift though it is not a done deal yet today in a rare Saturday session the senate agreed to extend the payroll tax cut. House comes next but there is a catch even if it is passed it is just a temporary extension of the cut. Average savings of about thousand dollars in taxes if you make about 50000 a year. So we asked tonight why just another two month extension is congress kicking the can down the road as they say and yet another issue. We Begin tonight -- ABC's David Curley at the White House David good evening. Good evening David facing that year end deadline and the rush to get home for the holidays there is this short term deal. It is economic stimulus but nobody in this town is going to call it that. A sigh of relief tonight for Christmas shoppers and -- mark's family of five in Pittsburgh. Payroll tax is likely won't go up at least through February times a really tough right now not just for me at the top for everybody. -- thought she was going to have to stop paying for her children's before and after school programs. Tax cut means 720 dollars a year in her pocket. For the average American making 50000 dollars it's a thousand bucks but congress is an extending the cut for a full year. While this agreement is for two months. It is my expectation. Inspector would be inexcusable. For congress not -- further extend this middle class tax cut for the rest of the year. Once again from Washington just a short term stopgap fix which some citizens are telling Washington just isn't enough. They need to do something for the long term punching every you know. We -- for much just -- -- -- -- it's not the way to do that is not the way to do it means they can't get their act together to stop playing politics long enough. To do what they happen. The eyes are 89 in congress is also expected to extend unemployment benefits. But also included a Republican demand that the president make a decision on extending an oil pipeline from Canada known as keystone. Within sixty days. Republicans call that pipeline a job creator. But senior White House officials say that provision is actually more likely to kill the pipeline deal they say it doesn't get the president and -- government enough time. To -- a scientific review of the pipeline. David couple of months until they argue again David -- at the White House tonight David thanks.

This transcript has been automatically generated and may not be 100% accurate.

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